LS Cable & System to acquire largest subsea cable laying barge in Korea
LS Cable & System has revealed the plan to secure the largest submarine cable laying barge in Korea to increase participation in domestic and overseas projects.
The company is planning to acquire its first submarine cable laying barge and prepare for offshore wind power generation projects.
With the acquisition of the 8,000-ton GL2030, LS Cable & System will become the only company in Korea to have both a submarine cable plant and submarine cable laying barge.
GL2030 will be used first for domestic projects starting in the first half of 2022. According to the company, it is expected to raise the submarine cable laying competency of Korea to the next level.
The company believes that by owning the barge it will be able to adjust its operation schedule, expanding its participation in forthcoming submarine cable projects in East and Southeast Asian countries.
Myung Roe-Hyun, president and CEO at LS Cable & System, said: “In line with the global spread of carbon-neutral policies, we are increasing our eco-friendly business, and continuously investing to secure our global competitiveness”.
At the end of May, LS Cable & System and DNV signed a non-exclusive Memorandum of Understanding (MOU) to target emerging subsea cabling opportunities in the offshore wind industry.
The companies will cooperate in identifying and reducing risk early in the cable manufacturing process, improving overall decision-making and helping secure pre-approval for floating power cabling products for offshore wind developers.