PetroVietnam Technical Services Corporation (PTSC) and South Korea's LS Cable & System Ltd. plan to jointly manufacture high-voltage underground cable for renewable energy projects in Vietnam.
PTSC, a subsidiary of state-owned Petrovietnam, and LS Eco Energy Ltd. (LSEE), a subsidiary of LS Cable & System Group, on Monday signed an agreement to cooperate in investing, developing, and operating a high-voltage underground cable factory.
The signing in Seoul had the witness of leaders from Petrovietnam and LS Cable & System Group - one of the world's leading high-voltage cable manufacturers.
The project aims to make product lines that meet international standards, directly serving renewable energy projects in the country, the region, and the global market, Petrovietnam wrote on its website.
Information on the project's production and investment scales as well as timelines was not mentioned.
PTSC and LSEE leaders sign a cooperation agreement in Seoul, South Korea on August 11, 2025. Photo courtesy of Petrovietnam.The signing ceremony marks a strategic milestone in the cooperation between PTSC and LSEE, and affirms the two enterprises' long-term visions in their goals to join deeply in the global green energy value chain, Petrovietnam stated.
When completed, the factory will significantly increase the production capacity of both parties, strengthen the equipment supply chain for the renewable energy industry, and create a foundation for Vietnam to become a center of manufacturing and exporting high-quality underground cables in the region.
Not only having technological and economic significance, the project will also contribute to the development of highly skilled human resources and enhance the competitiveness of Vietnam's energy industry in the process of transitioning to sustainable energy development, it added.
PTSC and LSEE representatives at the signing ceremony. Photo courtesy of Petrovietnam.PTSC is a key unit of Petrovietnam in the field of technical services and renewable energy, The cooperation with LSEE will not only bring about "superior technological advantages", but also opens up opportunities to enhance Vietnam's position on the global renewable energy map, according to Petrovietnam.
By Thai Ha
Theinvestor.vn