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According to Pulse by Maeil Business News Korea,
LS Industrial Systems Co. (LSIS), a South Korean electric power systems provider, obtained a deal worth $16.1 million to install an electronic interlocking system for railways in Bangladesh.
LS Industrial Systems said in a disclosure statement on Tuesday that it won a four-year contract worth $16.1 million from Toma Construction and Max Infrastructure, a joint venture between China Railway Group of China and Toma Group of Bangladesh, to provide an electronic interlocking system for Bangladesh railways.
The deal is a part of the project led by state-owned Bangladesh Railway and supported by Asia Development Bank with an aim to upgrade the outdated 72-kilometer long railway system connecting Akhaura and Laksam along the Bangladesh-India borderline.
Under the terms of the agreement, LSIS will supply railway electronic interlocking system that controls electric signals and communications in railway system over four years.
LSIS has led seven infrastructure projects during the past 12 years. And it plans to make more aggressive moves to win Asian markets such as the Philippines, Taiwan, Thailand, and Indonesia that have been dominated by European firms.
By Yoon Jin-ho
Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.
Source: Pulse by Maeil Business News Korea (Jul. 27, 2016)