wiredInUSA January 2020

JV to supply local Egyptian market

LS Cable & System (LS C&S) has announced a joint venture with MAN International Contracting, an Egyptian cable constructor, to install power cabling in Egypt. The joint venture will be called LS MAN Cable, and it plans to construct a plant near Cairo to manufacture overhead transmission wires. The production lines will have the capacity to produce 2,500km of overhead wires per year. A source for LS C&S commented: “Overhead wires, which are installed on steel towers between a power plant and a substation, have lower construction costs than subterranean lines. That is why overhead wires are in rapidly increasing demand in the Middle East and Africa.” Africa has experienced huge leaps in energy demand, year on year, due to rapid economic development and population

increase in the continent. As the region’s current electricity supply chain remains poor, many countries in Africa, including Egypt, are pursuing the construction of highly stable power networks as a national priority. “Globally, trade barriers are getting higher ascountries reinforcetheprotectivepolicies for domestic wire manufacturers,” said LS C&S president Myung Roe-hyun. “We are strengthening our competitiveness with the greenfield strategy, which is investing directly in major hub countries.” Photo: LS Cable & System signed a contract to establish a JV with MAN in Cairo. From right: LS C&S CFO Sang-ho Lee, LS C&S President & CEO Roe-hyun Myung, the Korean Ambassador to Egypt Yeo-cheol Yoon, Egypt Power Transmission Agency President Sabah Mashali, MAN President (Mohamed Ali Abdellah), MAN CEO Nan Tawfik

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wiredInUSA January 2020