PRYSMIAN SECURES A CONTRACT WORTH €250 Million FOR A 400 KV POWER CABLE PROJECT IN ABU DHABI (UAE
Thursday, Jul 15, 2010
Prysmian, a worldwide leading player in the energy and telecommunications cables industry, has been awarded a new major contract worth around € 250 million (around 1.15 BN Dirham) for the execution of a 400 kV power Extra High Voltage transmission turnkey project by Abu Dhabi Transmission and Dispatch Company (TRANSCO). Prysmian will provide engineering, manufacturing, installation and commissioning of the 400 kV cable system (triple circuit route of 25 km for a total of 230 km of extruded insulation (XLPE) cable and related network components). The total project execution time is 24 months.
This new award underlines the Group’s leading position in the supply of EHV cable systems. It is worth to remark that - coming after a project well in excess of € 200 million for offshore wind farm cables secured by the Group in the last weeks - it confirms first signals of sound market recovery in the II quarter and allows further visibility for transmission sales development after 2010. The Transco project proves - once more - the validity of know-how and technologies developed by Prysmian in the sector and the commitment to support the development of smarter and greener power grids worldwide.
The new link is of high importance for the Abu Dhabi Emirate’s power transmission system. It will connect the Bahia and Saadiyat Grid Stations, via some of the most prestigious infrastructure and real estate development areas like Yas Island – location of the new F1 Race track and huge luxury Real Estate development - and Saadiyat where it is under construction the new Abu Dhabi Cultural District that will host also the Louvre and Guggenheim museums. The underground cable system will replace the existing overhead lines resulting in a significantly lower environmental impact. The project can be classified as the
largest 400 kV underground cable system in the region and the largest EHV XLPE cable system in the world (in terms of contract value) ever awarded to a single supplier. “It is huge, complex and innovative as it will require also the adoption of micro tunnelling technology, a new application for power transmission projects in the region. Engineering skills, customer focus and market knowledge, are confirmed to be Prysmian’s strengths also in the ME.” declares Giovanni Caradonna, ME General Manager.
The project further confirms the key role played by Prysmian in the Abu Dhabi present huge infrastructure investment process and in the whole Middle East, where the Group counts several major projects completed and ongoing. These include Emirates Steel (ESI) and Emirates Aluminium Company Ltd. (EMAL) in Abu Dhabi (HV cable systems for the world’s largest aluminium smelter facility); the development of the first-ever Submarine Power Transmission link serving Doha and the new 400 kV high voltage underground grid connection on behalf of Qatar General Electricity & Water Corporation; the recently commissioned GCCIA Saudi Bahrain submarine interconnection, several projects in the O&G industry like the recently acquired Livorno FPSO (Dubai Dry Docks) and important Fire Resistant cabling projects such as the newly inaugurated Burj Khalifa and the Abu Dhabi Financial Centre.
Currently Prysmian has offices and facilities in Dubai, Abu Dhabi and Fujairah (UAE) - including the modern Power Plus Cable Co. LLC plant owned in Joint Venture with the Government of Fujairah and equipped to produce high voltage cables up to 220 kV -, Doha (Qatar), Manama (Bahrain) and Kuwait.
Prysmian
A leading player in the industry of high-technology cables and systems for energy and telecommunications, the Prysmian Group is a truly global company with sales in excess of € 3.7 billion in 2009 and a strong position in higher value-added market segments. With its two businesses, Energy Cables & Systems (submarine and underground cables for power transmission and distribution, for industrial applications and for the distribution of electricity to residential and commercial buildings) and Telecom Cables & Systems (optical cables and fibres and copper cables for video, data and voice transmission), Prysmian boasts a global presence with subsidiaries in 39 countries, 56 plants in 24 countries, 7 Research & Development Centres in Europe, USA and South America, and around 12,000 employees. Specialising in the development of products and services designed to customer customers’ specific requirements, Prysmian's key strengths include: a focus on Research & Development, the capacity to innovate products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange in the Blue Chip index.
Media Relations
Lorenzo Caruso
Investor Relations
Luca Caserta
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