LS Electric is partnering with Thai power solutions company ASIFA to strengthen its presence in Southeast Asia by forming additional partnerships with Thai companies. This collaboration sets the stage for further market expansion in the region.
According to ASIFA on the 24th, the company announced on the 21st (local time) that it has formed a partnership with global power and engineering companies, including LS Electric, Schneider Electric, Siemens, Huawei, Delta, and Socomec.
ASIFA plans to target the construction markets in Thailand and neighboring countries, providing custom solutions based on the latest technology for large-scale construction projects, ranging from manufacturing plants to smart buildings and data centers. These solutions will support infrastructure development in power, engineering, and more.
Through this partnership with ASIFA, LS Electric is expected to strengthen its position in the Southeast Asian market, including Thailand. By supplying smart power distribution solutions, smart grid and energy management systems (EMS), and industrial automation solutions, LS Electric is expected to uncover new business opportunities and increase its chances of winning contracts in the large projects ASIFA is pursuing.
LS Electric, which entered Thailand through the national railway system modernization project, is expanding its local business portfolio to include the power grid market. Recently, the company has been collaborating with local businesses to solidify its position in the Thai market.
In 2023, LS Electric signed a Memorandum of Understanding (MOU) with SCG Group, Thailand’s second-largest company, to cooperate on expanding the microgrid business in Thailand and Southeast Asia. Under this agreement, LS Electric will provide EMS, along with technical support for design software and programming, while SCG will supply solar power systems, energy storage systems (ESS), other hardware, and all equipment necessary for EMS operation.
LS Electric first entered the Thai market in 2001 by winning the first phase (ST1) of the Thai railway modernization project, becoming the first Korean company to do so. Since then, LS Electric has successfully completed subsequent phases, including the 4th phase (ST4) in 2007, the 5th phase (ST5) in 2015, and the Eastern Line and Northern Den Chai-Ngao section projects in 2020. In May of last year, the company was selected as the contractor for the Ban Phai-Nong Pok section project, surpassing a 50% market share in Thailand and accumulating contracts worth 150 million USD.
ASIFA, founded in 1997, is a provider of power distribution and automation solutions. The company offers data center solutions, smart building management systems, integrated engineering, and after-sales services. Through its subsidiary, Varitek, ASIFA also engages in the distribution of equipment related to electrical, water, and HVAC systems.
