PTSC and LS Eco Energy to develop high-voltage cable plant

PTSC and LS Eco Energy to develop high-voltage cable plant

PetroVietnam Technical Services Corporation and LS Eco Energy have partnered to build a high-voltage cable plant in Vietnam, boosting the renewable energy supply chain.

PetroVietnam Technical Services Corporation (PTSC) and LS Eco Energy Ltd. (LSEE), part of LS Cable & System, signed a Joint Development Agreement in Seoul during the Vietnam–Korea Economic Forum on August 12. The agreement covers investment, construction, and operation of a high-voltage alternating and direct current cable manufacturing plant, marking a strategic step to strengthen Vietnam’s renewable energy infrastructure and related industries.

As the world shifts to clean energy, demand for high-capacity power transmission, especially offshore high-voltage cables, is rising rapidly. At the same time, a global shortage of quality HVDC cables is slowing many renewable projects. The partnership between PTSC and LSEE aims to tackle this challenge and position Vietnam as a regional leader in producing and exporting high-quality high-voltage cables.

The strong backing from the two parent corporations, PetroVietnam and LS Cable & System, serves as a strategic guarantee for the scale and long-term sustainability of the venture, while underscoring their commitment to driving technological innovation, enhancing value creation, and making a positive contribution to the global green energy development goals. LSEE will take a central role, leveraging its world-class advanced manufacturing technology to ensure products meet the most stringent international standards while optimising productivity and quality.

LS Cable & System currently operates two large-scale manufacturing facilities in Vietnam, namely LS-VINA Cable & System in Haiphong and LS Cable Vietnam in Dong Nai. Both facilities have established a strong reputation for delivering high-quality power cables to domestic and export markets. The addition of the new high-voltage cable plant will complete the production value chain, meeting the rapidly growing demand in this strategic market segment.

As the core subsidiary of PetroVietnam in the fields of oil and gas technical services, industry, and renewable energy, PTSC remains steadfast in pursuing its strategy to expand manufacturing capacity, diversify products and services, and strengthen partnerships with leading international players.

The collaboration with LSEE is expected to help develop a highly skilled technical workforce and introduce advanced technologies, marking a strategic move to position Vietnam on the global renewable energy map.

VIR