LS Industrial bags third contract in Iraq
LS Industrial Systems, a Korean manufacturer of electrical components, said yesterday it has won a $92 million order to supply power distribution substations in Iraq.The contract calls for LS Industrial to build 35 power distribution substations within 18 months, the company said.
The order is the third that LS Industrial has won from Iraq, with which it signed in November a $115 million contract to supply power stations. In September, the Korean firm also clinched a $30 million contract to fit the country’s power stations. Iraq’s power plants and electricity distribution network are largely obsolete due to war damage, sanctions and underinvestment. Yonhap
with the Korea JoongAng Daily
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