LS Industrial wins smart grid contract for Iraq
LS Industrial Systems Co, a leading South Korean manufacturer of electric components, said it has won a US$ 67 million deal to build a power distribution control center for the Iraqi government.
Under the deal with Iraq’s Ministry of Electricity, the company will build seven distribution control centers across the country by early 2015, LS Industrial said in a press release. The deal is the biggest a local firm has won in the smart grid sector.
The distribution control center, which operates on wireless technology, functions based on a smart grid technology that enables a more efficient power management system.
With the latest deal, LS Industrial has logged $ 106.4 million worth of deals in Iraq this year. Earlier this month, the company clinched a $ 39.4 million deal to build a gas insulated switchgear facility in the Middle East country.
The company pledged to bolster its overseas business on the back of the Iraqi projects.
“Following the successful completion of the projects, (the company) aims to invigorate the local market as well as strengthen overseas expansion,” said a company official in charge of smart grid technology.