It includes a major expansion of Hellenic Cables’ state-of-the-art submarine cable factory in Corinth, which will double submarine cable production capacity, provide additional storage capacity, as well as extensive port facility upgrades
Hellenic Cables is launching an investment program of the order of 80 million euros, with a two-year completion horizon and the aim of addressing the growing demand for electrification, as a result of the rapid transition to a low-carbon economy.
According to the company, the program includes a major expansion of Hellenic Cables’ state-of-the-art submarine cable factory in Corinth, which will double submarine cable production capacity, provide additional storage capacity, as well as extensive port facility upgrades.
In this context, the company proceeded to acquire adjoining property with a total area of 43 acres.
With this investment, Hellenic Cables will strengthen its existing center of industrial excellence for a wide range of subsea cables, medium to ultra-high voltage, required in fast-growing markets such as offshore wind farms, subsea interconnections and offshore platforms power transfer (Power-From-Shore).
Renewable energy sources are expected to play a leading role in this effort in the near future, with most of their expansion coming from offshore wind. In addition, network interconnections, both nationally and internationally, will contribute to further strengthening energy security.
Hellenic Cables, through the significant investment program, aims to further strengthen its position at the forefront of the energy transition. Investments will allow her to effectively implement a record high order to execute and serve the growing demand as well as the higher expectations of its customers and stakeholders.
THE Alexis Alexiou, CEO of Cenergy Holdings and Hellenic Cables commented: “These investments are a historic step in Hellenic Cables’ vision to become a key player in the energy transition, with an integrated portfolio of products and services that meet the highest standards of quality, safety and sustainable development. With this investment program we respond to the needs and aspirations of our customers and stakeholders, demonstrating in practice our commitment to contribute to the global effort for a more sustainable future.”
Source: https://www.imerisia.gr/
