LSIS Secures Bridgehead in Ecuador to Tap Central and South America Electricity Markets
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LSIS Secures Bridgehead in Ecuador to Tap Central and South America Electricity Markets
Company wins project to construct substation (230kV) in Portoviejo, with investment by IDB

03(Mon), Oct, 2016




Seo Jeong-min, director of LSIS’s Department for the International Development of Electric Power, shakes hands with Luis Ruales Corrales, the director of Ecuador Electricity, after signing a contract for the construction of a 230kV substation in Portoviejo on August 2 with CELEC EP in Quito, the capital of Ecuador. (Photo: LSIS)



Starting with a project to construct a substation in Haiti in 2014, LSIS has been targeting the electricity infrastructure markets of Central and South America. In addition, LSIS recently succeeded in obtaining an additional order from Ecuador, and is expected to win further contracts as it consolidates its position in the local market. LSIS announced the conclusion of the contract for the construction of a 230kV substation in Portoviejo, which is worth $9.1 million (about 10.3 billion won), on Aug. 2 with CELEC EP in Quito, the capital of Ecuador. Seo Jeong-min, the director of LSIS’s Department for the International Development of Electric Power, and Luis Ruales Corrales, the director of Ecuador Electricity, were present at the signing ceremony.

Backed by an investment from the IDB (Inter-American Development Bank), LSIS will execute the entire project using the EPC method, which encompasses everything from field design to materials procurement, construction, and inspection. LSIS will also construct a substation in Portoviejo, Ecuador by November 2017.

The 230kV substation will supply extra-high voltage power to subordinate substations in the area, as well as taking charge of safety management of the system and ensuring that consumers, including households and factories, are able to use the electricity supply free of problems.

As demand for electricity in Ecuador is rising consistently among households and industries, and the reconstruction of infrastructure that was badly damaged by a major earthquake in April of last year is ongoing, the demand for electricity is expected to grow to around 8.4 billion dollars (9.57 trillion won) by 2022.

In particular, regional development banks and international development financial institutions such as IDB and the World Bank have recently expanded their investments in the regional infrastructure sector of Central and South America, so consistent growth is expected to continue.

After successfully executing this project, LSIS plans not only to participate in expanding and improving Ecuador’s infrastructure but also to target adjacent Latin American markets such as Chile and Peru.

An LSIS official stated, “Since successfully completing the Haiti project, which we won in 2014, LSIS has won another EPC project in Ecuador and established a firm bridgehead from which to target the local electricity market. As the local electricity board highly appreciates LSIS’s advanced technology and overseas business capability and is actively requesting its participation in business, we expect to win additional contracts.”


LSIS Selected to Modernize Bangladesh’s Railroad Signal System

LSIS recently won the Bangladesh railroad signal and communications system project, its seventh major project in the last twelve years, surpassing Europe’s top company and becoming the industry leader in the process.

LSIS announced its selection as the operator of the project, which is worth $16.1 million (about 18.9 billion won), by CTM JV, a China-Bangladesh joint venture, on July 26.

The BR-led railroad modernization project supported by ADB entails the modification of the 72km-long single-track railroad linking twelve stations between Bangladesh and Akhaura-Laksam, on the border between Bangladesh and India, into a double-track railway line. LSIS will supply the electronic interlocking system over four years, and will take charge of the safe operation of trains on general tracks using the turnkey method, which encompasses signalization and communications.

LSIS has already supplied the system to foreign markets based on its abundant project experience and technical know-how in the field of train signal control, and has even received SIL4, the world’s highest international safety certification rating.

Since entering the railroad signal market in Bangladesh in 2004, the company has acquired recognition of its technology and project management ability, enabling it to win additional contracts.

Last December, LSIS was selected to manage a 17 billion won railroad signal modernization project (funded by the EDCF) for the Chinki-Chittagong section of the Bangladesh railroad line, which includes 11 stations. In this way, LSIS has obtained seven contracts in the last twelve years, and is judged to have firmly established its position as the leading company in the market, which was previously occupied by leading European companies.

As part of its seventh five-year economic development plan, Bangladesh’s government is planning to invest $30 billion (about 34 trillion won) in its railroad network, including railroad foundation (856km), double-tracking (1,110km), and repair and improvement (725km) works. As such, business opportunities are expected to be continuously created in the country’s railroad sector.

   
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