PTSC and LSEE officially signed a Strategic Cooperation Agreement to develop a high-voltage underground cable manufacturing plant in Vietnam.

Leaders of PTSC and LSEE attended the JDA Exchange Ceremony at the Vietnam - Korea Economic Forum on August 12, 2025, witnessed by Vietnamese General Secretary To Lam and Korean Prime Minister Kim Min Seok, within the framework of the high-level working trip of the Vietnamese State Delegation.

In the context of the global energy transition to clean energy, the demand for large-capacity power transmission, especially via offshore high-voltage submarine cables, is increasing at an unprecedented rate. Meanwhile, the supply of high-quality HVDC cables in the world is in short supply, directly affecting the progress of many renewable energy projects. The cooperation project between PTSC and LSEE is implemented to contribute to solving this urgent problem, while at the same time making Vietnam become the leading center for manufacturing and exporting high-quality submarine cables in the region.

Mr. Tran Ho Bac - General Director of PTSC and Mr. Lee Sang Ho - General Director of LSEE signed the JDA under the witness of Mr. Le Manh Cuong - Deputy General Director of Petrovietam and Mr. Koo Bon-Kyu - General Director of LS Cable & System Group.

The strong support from the two parent corporations – Petrovietnam and LS Cable & System – is a strategic guarantee for the project’s scale and sustainability, while demonstrating a commitment to promoting technological innovation, enhancing added value and actively contributing to the global green energy development goal. LSEE will play a central role with world-leading advanced manufacturing technology, ensuring products meet the most stringent international standards and optimize productivity and quality.

Representatives of Leaders of Corporations and Companies of both sides

LS Cable & System is currently present in Vietnam with two large-scale factories, LS-VINA Cable & System in Hai Phong and LS Cable Vietnam in Dong Nai, which have affirmed their reputation in providing high-quality electric cables for the domestic and export markets. The appearance of the new high-voltage underground cable factory will complete the production chain, meeting the increasing demand in this strategic segment. Holding the leading role of Petrovietnam in oil and gas, industrial and renewable energy technical services, PTSC steadfastly pursues the strategy of expanding production capacity, diversifying products and services and expanding cooperation with leading international partners. The cooperation with LSEE not only develops highly skilled human resources, brings breakthrough technological advantages, but is also a strategic step to affirm Vietnam's position on the global renewable energy map.

Bui Thi My - Tran Thi Huyen Trang

Source: https://www.ptsc.com.vn/tin-tuc/tin-ptsc-1/san-xuat-kinh-doanh/ptsc-va-lsee-chinh-thuc-ky-ket-thoa-thuan-hop-tac-chien-luoc-phat-trien-nha-may-san-xuat-cap-ngam-cao-the-tai-viet-nam