LS Cable & System will participate in the Asian Infrastructure Investment Bank's first network loan project. The company said on Nov. 6 that it was selected as one of the Oman's broadband communication network providers.
Under the leadership of the Omani government, Oman Broadband (OBB), a state-run telecommunication company, carries out the nation's first project to establish optical communication network.
By 2021, the first phase will be centered on the capital, Muscat, and major cities, and the second phase will be expanded to provincial areas by 2030.
LS Cable is responsible for design and engineering of telecommunication network and supply of optical fiber cables. The company has experience in carrying out large-scale projects in Qatar and has secured an advantage over its competitors, the company said.
With the deal, LS Cable has secured at least tens of billions of won in the first stage of its project, which is estimated to be worth about 200 billion won, and the second stage is expected to increase its sales in the future.