Cable producer Hellenic Cables, a part of Belgium’s Cenergy Holdings SA (EBR:CENER), mentioned in the present day it should make investments about EUR 80 million (USD 86.6m) over two years to organize for rising demand pushed by the electrification and power transition.
The funding programme contains an enlargement of the corporate’s subsea cable manufacturing facility in Corinth, Greece. This can contain doubling the manufacturing capability for submarine cables, offering the power with further storage and upgrading its port services. The corporate has purchased a neighboring 43,000 sq.m. (462,848 sq ft) property as a part of the enlargement.
By means of the funding, Hellenic Cables goals to be higher in a position to serve rising demand from sectors corresponding to offshore wind, subsea interconnections and power-from-shore.
Hellenic Cables has three principal cable manufacturing vegetation, two in Greece and one in Romania.
(EUR 1 = USD 1.083)
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