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Prysmian will expand the production capacity of submarine and terrestrial cables
New establishment in the USA and enhancement of those in Italy, Finland and France
March 23, 2022
The Prysmian Group, the world leader in cable systems for energy and telecommunications, has announced investments in the value of around one billion by 2024, mainly aimed at business development in support of the energy transition, with the aim of consolidating its share of 35-40% in the high submarine and terrestrial voltage cable market. The investments also include the realization of a new submarine cable establishment in the USA and the expansion of production capacity of the plants in Italy, Finland and France.
Today in Naples, on the occasion of the Submarine Cable Day for the presentation of the new posacavi ship Leonardo da Vinci which was built for Prysmian by the Vard of the Fincantieri group and taken over last April, the CEO of the Prysmian Group, Valerio Battista, highlighted that " the development of the trans-European electricity network plays a role strategic both for decarbonisation and transition to renewable sources and to improve EU energy autonomy, a topical news outlet with the Russia-Ukraine conflict. "As a world leader in the cable industry, we have made the decision to increase investments in particular to support energy interconnection projects and links from renewable sources," he said.
As for investment in the increase in production capacity, Prysmian said an investment of more than 80 million euros is intended for the Felice Felice (Napoli) plant, which will also be expanded in view of the execution. of the Tyrrhenian Link interconnection. In Finland, in Pikkala, a centre of excellence for the centre-north Europe, particularly focused on offshore wind farm wiring projects, an investment of more than 100 million euros is earmarked, as well as in the Gron plant in France for the production of cables for German projects. They complete the current production set-up of submarine cables the Nordenham plants in Germany and Drammen in Norway. The group is also accelerating the plan for the construction of the first submarine high-voltage cable establishment in Massachusetts in the United States with an investment of around 200 million euros, with the intention of making it a strategic hub importance for the development of offshore wind in the USA.
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The Prysmian Group, the world leader in cable systems for energy and telecommunications, has announced investments in the value of around one billion by 2024, mainly aimed at business development in support of the energy transition, with the aim of consolidating its share of 35-40% in the high submarine and terrestrial voltage cable market. The investments also include the realization of a new submarine cable establishment in the USA and the expansion of production capacity of the plants in Italy, Finland and France. 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
