LS Cable & System to Acquire Largest Subsea Cable Laying Barge in Korea
LS Cable & System has revealed the plan to buy the largest submarine cable laying barge in Korea to increase participation in domestic and overseas offshore wind 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.
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.”