Gaon Cable Wins First Singapore MRT Grid Contract Worth KRW 60 Billion

en.Wedoany.com Reported - Gaon Cable will participate for the first time in a power infrastructure project for Singapore's Mass Rapid Transit (MRT) system. The LS Cable & System subsidiary announced on August 6 that it will supply distribution cables valued at approximately KRW 60 billion for the MRT grid construction project commissioned by Singapore's Land Transport Authority (LTA). This marks Gaon Cable's first order since it was registered as an LTA-approved supplier last year.

Singapore plans to expand its MRT network from the current approximately 240 kilometers to over 360 kilometers by the early 2030s. With new rail lines under construction and plans to upgrade power infrastructure on existing lines, demand for distribution cables is expected to remain strong.

Gaon Cable CEO Chung Hyun stated, "We will continue to focus on strategic markets such as the United States and Singapore to increase the share of overseas revenue while enhancing profitability and growth."