Latest news with #LSGreenLinkUSA
Yahoo
30-04-2025
- Business
- Yahoo
LS GreenLink USA breaks ground on HV DC submarine cables manufacturing facility
LS GreenLink USA, a subsidiary of LS Cable & System, a South Korea-based cable solution provider, has broken ground on its manufacturing and port facility in Chesapeake, Virginia. US. The initial phase of the project represents an investment over $681m and is anticipated to create more than 330 new jobs in the region. This phase will include a 750,000ft² advanced manufacturing plant, a 660ft vertical continuous vulcanisation (VCV) tower, and a pier, all aimed at enhancing the production, handling, and global delivery of high-voltage direct current (HV DC) submarine cables. The 660ft VCV tower, upon completion, is expected to be the tallest structure in the Commonwealth of Virginia and stated to become the tallest between Philadelphia, Pennsylvania, and Charlotte, North Carolina. This project is scheduled for completion by the third quarter of 2027, with the facility expected to be fully operational by the first quarter of 2028. The project will unfold in multiple phases, with the planned subsequent stages allowing LS GreenLink to increase its production capacity and advance technological capabilities to meet the changing demands of global infrastructure. The ground-breaking ceremony was attended by executives from LS GreenLink, elected officials, industry partners, and local community leaders. LS Cable & System regional president of North America Gisu Kim said: 'The development of this advanced manufacturing facility highlights LS Cable & System's continued commitment to the United States. This project not only strengthens our global production capabilities but also contributes directly to local economic growth and the advancement of the region's energy infrastructure. "We are proud to support the communities where we operate and look forward to the positive impact this facility will have across the broader energy sector.' Virginia governor Glenn Youngkin said: 'The commencement of this facility in Chesapeake is a proud moment for Virginia. This investment strengthens our leadership in innovation, energy, and manufacturing while creating hundreds of new jobs. "LS GreenLink's commitment to developing advanced energy infrastructure here exemplifies the innovative and impactful growth we are seeing across the Commonwealth.' "LS GreenLink USA breaks ground on HV DC submarine cables manufacturing facility" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Wire
29-04-2025
- Business
- Business Wire
LS GreenLink Commences Development of Advanced Manufacturing and Port Facility in Chesapeake, Virginia
CHESAPEAKE, Va.--(BUSINESS WIRE)-- LS GreenLink USA, Inc. ("LS GreenLink"), a subsidiary of LS Cable & System Ltd. ('LS Cable & System'), today officially commenced construction on its state-of-the-art manufacturing and port facility in Chesapeake, Virginia. This significant project represents a major advancement in bolstering global energy infrastructure, with the initial phase representing an investment exceeding $681 million and the creation of more than 330 new jobs in the region. The initial phase of the development will encompass a 750,000 sq. ft. advanced manufacturing plant, a 660-foot VCV (Vertical Continuous Vulcanization) tower, and a dedicated pier, all designed to enhance the production, handling, and global delivery of HVDC (high-voltage direct current) submarine cables critical to modern energy infrastructure. The 660-foot VCV tower is projected to be the tallest structure in the Commonwealth of Virginia and the tallest structure between Philadelphia, Pennsylvania, and Charlotte, North Carolina, underscoring the facility's significant contribution to the regional skyline. Bon-Kyu Koo, President & CEO of LS Cable & System, said, 'This groundbreaking marks a monumental step forward for LS Cable & System in fulfilling our global vision for energy infrastructure. By investing in cutting-edge manufacturing facilities like the one in Chesapeake, Virginia, we not only strengthen our competitive position in the global market but also play a crucial role in providing innovative solutions to meet the world's growing energy demands. The success of this project will enhance our global footprint and contribute significantly to the advancement of sustainable energy systems worldwide.' Gisu Kim, Regional President of North America at LS Cable & System, emphasized the significance of the new facility, stating, 'The development of this advanced manufacturing facility highlights LS Cable & System's continued commitment to the United States. This project not only strengthens our global production capabilities but also contributes directly to local economic growth and the advancement of the region's energy infrastructure. We are proud to support the communities where we operate and look forward to the positive impact this facility will have across the broader energy sector.' 'This groundbreaking event represents far more than the launch of a construction project - it marks the start of a long-term investment in innovation, sustainability, and energy resilience,' said Patrick Y. Shim, Managing Director of LS GreenLink USA, Inc. 'With this facility, LS GreenLink is laying the foundation for leadership in advanced manufacturing while reinforcing the global energy infrastructure that powers industries and communities worldwide.' Virginia Governor Glenn Youngkin remarked, 'The commencement of this facility in Chesapeake is a proud moment for Virginia. This investment strengthens our leadership in innovation, energy, and manufacturing while creating hundreds of new jobs. LS GreenLink's commitment to developing advanced energy infrastructure here exemplifies the innovative and impactful growth we are seeing across the Commonwealth.' U.S. Senator Mark Warner stated, 'I've been proud to support this project, and am thrilled to finally celebrate the groundbreaking of this manufacturing and port facility. This investment by LS GreenLink will be tremendous for Chesapeake, and for Virginia as a whole, bringing high-quality, good-paying jobs to the region while continuing the Commonwealth's leadership in energy investment and infrastructure.' 'I'm thrilled to be breaking ground with LS GreenLink on its Hampton Roads cable manufacturing and pier facility, and I'm proud that this project was facilitated by tax credits in the Inflation Reduction Act that I fought to pass,' said U.S. Senator Kaine. 'This facility will create hundreds of high-quality, good-paying jobs, boost the region's economy, and affirm Virginia's global status as a clean energy hub.' U.S. Representative Bobby Scott shared, 'I am proud to welcome LS GreenLink to Virginia's Third Congressional District. Hampton Roads is a leader in offshore wind production and this subsea cable facility is an important piece of the domestic offshore wind supply chain. Thanks to the Inflation Reduction Act, LS GreenLink is utilizing tax credits for projects that expand clean energy. The manufacturing tax credits, which I spearheaded with my colleagues, are bringing high-paying jobs to our local economy and I look forward to seeing the completed facility.' 'This groundbreaking ceremony represents not just a significant investment in the City of Chesapeake but also for the Hampton Roads community,' said Chesapeake City Mayor Rick West. 'This investment represents a huge step for the region's clean energy and offshore wind industries. LS GreenLink's decision to locate in Chesapeake proves the City's and region's commitment to clean, renewable energy. We look forward to future investment from LS and a continued partnership with South Korea.' Doug Smith, President & CEO of Hampton Roads Alliance, commented, 'The Hampton Roads region has long been recognized for its strong maritime and manufacturing capabilities. This significant investment from LS GreenLink in Virginia not only enhances our regional economy but further establishes Hampton Roads as a hub for innovation and advanced manufacturing in the energy sector. We are excited to support LS GreenLink in this endeavor.' Finally, David White, Executive Director of Virginia Maritime Association, added, 'The development of this advanced manufacturing facility in Chesapeake aligns with the strategic growth of Virginia's maritime industry. This project will provide critical infrastructure for the global energy supply chain while creating high-quality jobs in the region. We are proud to be part of this exciting development and look forward to its future success.' The initial phase is expected to be completed by the third quarter of 2027, with the facility fully operational by the first quarter of 2028. Subsequent phases of the project are planned, allowing LS GreenLink to expand its production capacity and technological capabilities in response to evolving global infrastructure requirements. The groundbreaking ceremony brought together executives from LS GreenLink, elected officials, industry partners, and local community leaders, all of whom expressed their support for the project's positive economic and strategic impact on the region. About LS Cable & System Ltd. Founded in 1962, LS Cable & System Ltd. is a global leader in power and communication cables and systems. With over 6,500 employees and 35 subsidiaries in 17 countries, LS Cable & System continues to drive innovation in energy transmission and distribution. For more information, visit
Yahoo
29-04-2025
- Business
- Yahoo
LS GreenLink Commences Development of Advanced Manufacturing and Port Facility in Chesapeake, Virginia
Over $681 Million Investment in phase 1 to Generate More Than 330 New Employment Opportunities; Additional Phases Planned CHESAPEAKE, Va., April 29, 2025--(BUSINESS WIRE)--LS GreenLink USA, Inc. ("LS GreenLink"), a subsidiary of LS Cable & System Ltd. ("LS Cable & System"), today officially commenced construction on its state-of-the-art manufacturing and port facility in Chesapeake, Virginia. This significant project represents a major advancement in bolstering global energy infrastructure, with the initial phase representing an investment exceeding $681 million and the creation of more than 330 new jobs in the region. The initial phase of the development will encompass a 750,000 sq. ft. advanced manufacturing plant, a 660-foot VCV (Vertical Continuous Vulcanization) tower, and a dedicated pier, all designed to enhance the production, handling, and global delivery of HVDC (high-voltage direct current) submarine cables critical to modern energy infrastructure. The 660-foot VCV tower is projected to be the tallest structure in the Commonwealth of Virginia and the tallest structure between Philadelphia, Pennsylvania, and Charlotte, North Carolina, underscoring the facility's significant contribution to the regional skyline. Bon-Kyu Koo, President & CEO of LS Cable & System, said, "This groundbreaking marks a monumental step forward for LS Cable & System in fulfilling our global vision for energy infrastructure. By investing in cutting-edge manufacturing facilities like the one in Chesapeake, Virginia, we not only strengthen our competitive position in the global market but also play a crucial role in providing innovative solutions to meet the world's growing energy demands. The success of this project will enhance our global footprint and contribute significantly to the advancement of sustainable energy systems worldwide." Gisu Kim, Regional President of North America at LS Cable & System, emphasized the significance of the new facility, stating, "The development of this advanced manufacturing facility highlights LS Cable & System's continued commitment to the United States. This project not only strengthens our global production capabilities but also contributes directly to local economic growth and the advancement of the region's energy infrastructure. We are proud to support the communities where we operate and look forward to the positive impact this facility will have across the broader energy sector." "This groundbreaking event represents far more than the launch of a construction project - it marks the start of a long-term investment in innovation, sustainability, and energy resilience," said Patrick Y. Shim, Managing Director of LS GreenLink USA, Inc. "With this facility, LS GreenLink is laying the foundation for leadership in advanced manufacturing while reinforcing the global energy infrastructure that powers industries and communities worldwide." Virginia Governor Glenn Youngkin remarked, "The commencement of this facility in Chesapeake is a proud moment for Virginia. This investment strengthens our leadership in innovation, energy, and manufacturing while creating hundreds of new jobs. LS GreenLink's commitment to developing advanced energy infrastructure here exemplifies the innovative and impactful growth we are seeing across the Commonwealth." U.S. Senator Mark Warner stated, "I've been proud to support this project, and am thrilled to finally celebrate the groundbreaking of this manufacturing and port facility. This investment by LS GreenLink will be tremendous for Chesapeake, and for Virginia as a whole, bringing high-quality, good-paying jobs to the region while continuing the Commonwealth's leadership in energy investment and infrastructure." "I'm thrilled to be breaking ground with LS GreenLink on its Hampton Roads cable manufacturing and pier facility, and I'm proud that this project was facilitated by tax credits in the Inflation Reduction Act that I fought to pass," said U.S. Senator Kaine. "This facility will create hundreds of high-quality, good-paying jobs, boost the region's economy, and affirm Virginia's global status as a clean energy hub." U.S. Representative Bobby Scott shared, "I am proud to welcome LS GreenLink to Virginia's Third Congressional District. Hampton Roads is a leader in offshore wind production and this subsea cable facility is an important piece of the domestic offshore wind supply chain. Thanks to the Inflation Reduction Act, LS GreenLink is utilizing tax credits for projects that expand clean energy. The manufacturing tax credits, which I spearheaded with my colleagues, are bringing high-paying jobs to our local economy and I look forward to seeing the completed facility." "This groundbreaking ceremony represents not just a significant investment in the City of Chesapeake but also for the Hampton Roads community," said Chesapeake City Mayor Rick West. "This investment represents a huge step for the region's clean energy and offshore wind industries. LS GreenLink's decision to locate in Chesapeake proves the City's and region's commitment to clean, renewable energy. We look forward to future investment from LS and a continued partnership with South Korea." Doug Smith, President & CEO of Hampton Roads Alliance, commented, "The Hampton Roads region has long been recognized for its strong maritime and manufacturing capabilities. This significant investment from LS GreenLink in Virginia not only enhances our regional economy but further establishes Hampton Roads as a hub for innovation and advanced manufacturing in the energy sector. We are excited to support LS GreenLink in this endeavor." Finally, David White, Executive Director of Virginia Maritime Association, added, "The development of this advanced manufacturing facility in Chesapeake aligns with the strategic growth of Virginia's maritime industry. This project will provide critical infrastructure for the global energy supply chain while creating high-quality jobs in the region. We are proud to be part of this exciting development and look forward to its future success." The initial phase is expected to be completed by the third quarter of 2027, with the facility fully operational by the first quarter of 2028. Subsequent phases of the project are planned, allowing LS GreenLink to expand its production capacity and technological capabilities in response to evolving global infrastructure requirements. The groundbreaking ceremony brought together executives from LS GreenLink, elected officials, industry partners, and local community leaders, all of whom expressed their support for the project's positive economic and strategic impact on the region. About LS Cable & System Ltd. Founded in 1962, LS Cable & System Ltd. is a global leader in power and communication cables and systems. With over 6,500 employees and 35 subsidiaries in 17 countries, LS Cable & System continues to drive innovation in energy transmission and distribution. For more information, visit View source version on Contacts Media Contact: LS GreenLink USA, Y. ShimManaging Directorpress@
Yahoo
29-04-2025
- Business
- Yahoo
Construction begins on massive underwater cable plant in Chesapeake
A multimillion-dollar underwater cable factory in Chesapeake has officially broken ground, adding another part of the offshore wind supply chain to Hampton Roads. The 750,000-square-foot plant — part of a $680-million investment by LS Greenlink USA, a subsidiary of South Korean-based LS Cable & System — is expected to create more than 330 full-time jobs. According to public records, LS GreenLink USA purchased the 96.62 acres of land adjacent to the Southern Branch Elizabeth River in Chesapeake from International Bio-Energy Virginia Real Estate LLC for an undisclosed amount. Koo Bon-kyu, president CEO of LS Cable & System, said the plot has 'plenty of room to expand' the plant for future phases. 'Years ago, people were talking about Virginia as a victim of sea-level rise or a victim of climate change,' said Sen. Tim Kaine. 'Those facts may be accurate, but nobody wants to be the recipient of problems. We want to be the innovator. We want to be the winner. Whether its LS Greenlink here in Chesapeake or the complete electrification of the cranes at the Port of Virginia, … (renewable energy projects) are moving Virginia into a leadership position.' The plant is expected to be fully operational by the first quarter of 2028. Gov. Glenn Youngkin said the collaboration between economic development officials in Virginia and Chesapeake has been working with counterparts in Korea for years to get the plant to the commonwealth. He approved a $13.2 million grant from the Commonwealth's Opportunity Fund to assist the city of Chesapeake with the project. The company is eligible to receive state benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program. He also said the well-paying jobs will be a good asset to the state's economy. The company will also receive $99 million in tax credits from the Inflation Reduction Act of 2022. 'At the beginning of all of this, it took vision,' Youngkin said. The tower for the facility is expected to be 660 feet. It would be tallest building in Virginia, exceeding the height of the The Westin Virginia Beach Town Center, which stands at 508 feet. In October, the Chesapeake City Council voted unanimously to approve a conditional use permit for the height exception. The plant's tower is needed because as the cables are made, gravity helps center the core of the cable. Once produced, the cables are stored in spools and loaded onto ships directly from the pier that's located on the project site, where they can then be shipped out for offshore wind energy projects across the globe. Koo said many of the company's first contracts will be for offshore wind projects in Europe. While the city has no direct influence on recent tariff policy by the Trump administration, Chesapeake Mayor Rick West said he is working on letters and op-eds regarding the issue. Koo said while there is some concern about how tariffs on copper could affect business, the company could adjust pricing on products or take other risk management strategies to address rising costs. 'We're working very closely with our regional organizations as well as the state of Virginia Economic Development Partnership to truly understand what the impact of tariffs will be,' said Steven Wright, economic development director for the city of Chesapeake. ' At every step along the way, we will try to minimize the impacts (of tariffs) on this project.' Eliza Noe,
