Prysmian Group secures order for cables worth over €50 M for new power transmission grids in Libya
Thursday, Apr 05, 2012
Prysmian Group, world leader in the energy and telecom cables and systems industry, is set to play an important role in the reconstruction of Libya, in particular its infrastructure and networks for energy and telecommunications.
Prysmian announces the acquisition of a contract worth over €50 million to supply 203 km of high voltage 220 kV AC cables and related network components for the upgrade of the electricity grids operated by GECOL (General Electric Company of Libya) in Tripoli and Benghazi. The contract, due to be carried out on behalf of PEWCO (Public Works Electric Company), includes also the supply of optical cables for grid monitoring.
Prysmian boasts an established presence in Libya, following its involvement in recent years in major projects for the development of both new broadband telecom networks and high voltage electricity grids.
With the acquisition of this new project, the Group has further increased its power transmission order book (for underground and submarine cables) amounting to over €2.3 billion as of Feb. 2012. Renewable energy developments and realisation of new power interconnectors are among the main drivers of the growth of this market.
Prysmian Group is world leader in the energy and telecom cables and systems industry. With sales of some €8 billion in 2011, approximately 22,000 employees across 50 countries and 97 plants, the Group is strongly positioned in high-tech markets and offers the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.
Source: Prysmian Group
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