LS

■ LS ELECTRIC has been selected to be the supplier of the traffic signal system for section 1 of the 322km long double-track railway line to be constructed in the north part of the country.
■ Since entering the Thailand market in 2001, LS ELECTRIC has grown its market share to 50%, surpassing KRW 150 billion in total sales.
■ LS ELECTRIC will actively target the Asian market with Asia transitioning to a ‘living with COVID’ strategy followed by attracting investment in infrastructure.

LS ELECTRIC is increasing its markets share in the Asian railway sector by winning this KRW 20 billion project to build a traffic signal system for Thailand's double-track railway infrastructure to be constructed in the northern region, subsequent to winning an order to supply the electric power system for Taiwan’s national railway line.

The State Railway of Thailand is pursuing a project to add a new 322km railway line that will connect the northern districts of Den Chai, Chiang Rai, and Chiang Khong. On November 10, LS ELECTRIC announced that it had won the contract to supply the traffic signal system for the first section that would connect Den Chai with Ngao (project cost to be KRW 19.6 billion).

This project to build a double-track railway line in Thailand’s northern region will cost THB 72.9 billion (about KRW 2.7 trillion). As a participant in a consortium with Italian-Thai Development (ITD), the No. 1 local railway construction company in Thailand, LS Electric will be tasked with the design, production, and installation of the signal communication system in section 1 of the route.
The objective of the section 1 construction project is to create a railway network in Thailand’s northern region by laying double-track rails. The construction of the new double-track lines spanning a distance of 103 km from Den Chai to Ngao will greatly boost cargo and passenger transportation capacities in the region.

In 2001, LS ELECTRIC became the first South Korean company to enter the railroad signaling market of Thailand when it won the country’s first railway signal modernization (ST1) and railroad control center construction project. In the following years, LS ELECTRIC successfully completed other major railway signal modernization projects, and today it maintains a market share of more than 50% in Thailand. With this contract, LS ELECTRIC ascended the ranks to be the leading supplier of signal systems for double-track railways, reaching the milestone of surpassing KRW 150 billion in cumulative sales.

An LS ELECTRIC official explained, “The credibility we earned over the past 10 years by successfully undertaking various railroad traffic signal projects with ITD of Thailand was the single most important reason we were able to get this contract. Recently, countries in Asia have begun the transition to a ‘living with COVID’ strategy followed by ramping up their investments in infrastructure projects. Based on our know-how and experience that we accumulated in the railway business, we plan to grow our national and urban railway E&M business, focusing namely on Thailand, Taiwan, and Bangladesh, three countries with the fastest growing railway market globally.”

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On November 10, LS ELECTRIC announced that it had won a contract worth KRW 19.6 billion to install a railway signal system in the Den Chai to Ngao section of Thailand’s national project to build a 322km railway line connecting the northern districts of Den Chai, Chiang Rai, and Chiang Khong. In a photo commemorating the signing ceremony are ITD Vice President Danai Bhumiwat at the E&M Division, ITD Vice President Pipat Lorach at the Railway Business Division, and LS ELECTRIC Director Park Woo-beom at the Electric Power System Business Division.