South Korea’s leading cable manufacturer LS Cable &System Ltd. said Thursday its Indian unit LSCI signed a $40 million deal to supply extra-high voltage cables to the power authority of India’s Andhra Pradesh state. It is the company’s largest order in the segment.

The latest order was placed as part of the Indian government’s plan to improve the country’s outdated power infrastructure and add more grids for new town development.

India is the world’s third largest power-consuming country and a potential $200 million market for high voltage cable.

“The latest contract will be a catalyst for new cable orders in India, a market so far dominated by local players due to cheap prices,” said an official at LS C&S.

LS Cable has been eager in overseas campaign. It established its first factory for communications cables and parts in India in 2008 and added a power cable factory in 2012. It also made inroads into the United States and China to expand business.

By Hwang Soon-min and Lee Ha-yeon

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