Italianenergy and
telecom cable producerPrysmian Group said it has signed a Memorandum of Understanding
(MoU) with Romanian power grid operator Transelectrica [BSE:TEL] tostudy
the opportunities for the construction of a subsea connection between Romania
and Turkey.
Prysmian Group CEOValerio Battista also announcedtwo new industrial
investments worth around 30 million euro ($34.4 million) in total in the
southwestern Romaniantown of Slatina during a news conference attended by
prime minister Victor Ponta,Prysmian Group said in a statement posted on
its website on Tuesday.
The MoU was also signed byUnicredit Bank and Tonucci & Partners law
firm. The partners agreed to carry out studies and analyses on the potential
development of a submarine cable connection between Romania and Turkey which
would allow Romanian power suppliers exports.
The first plannedinvestment in Slatina is related to the construction of
new optical cable facilities located within an Industrial Park. The new plant
will produce a full range of new generation optical fibre cables to support the
most advanced applications and usages from public and private, national and
international operators with all required quality certifications., as part of
the production will be exported.
The first stage of the project is planned for completion in2017, when the
plant's capacity will be doubled from around 2.5 million km of optical cables
at present. It is then to be tripled to some 8 million km by 2020. The new
plant will also create 300 permanent jobs.
The group has also planned to start in Slatina the production of high voltage cables
for underground power transmission lines up to 150 kV. The new facility will
serve both the internal and foreignmarkets.Completion of the
project and beginning of production is scheduled for July 2015.
The new projectsarepart of a development plan launched in Slatina
in 2013 which involved an initial investment of 20 million euro.
Prysmian Group has a long-lasting presence in Romania and in the whole Danubian
region with five plants and 1,400 employees.
With the objective of further developing local highly skilled human resources,
Prysmian has also announced the launch of an international education programme
to support the industrial development with the recruitment of new and qualified
local people.
Source: SeeNews
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