South Korea-based LS Industrial Systems (LSIS), a leader in the field of electric power solutions, has signed a deal worth 170 billion Iraqi dinars ($146 million) to supply electrical equipment to Bismayah New-City Project, Iraq’s biggest city development project.

Under the deal, the company will supply equipment for gas insulated switchgear at 32 substations over the next four years, said a report in Iraq Business News.

LSIS is a newcomer in the substation market in Iraq, which has long been dominated by global companies such as Siemens and ABB, but the company has previously won other business in Iraq, it added.