| 08 Sep 2008 |
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Prysmian Awarded 140 Million Euro Contract In Qatar For The Development Of The First Ever High Voltage Submarine Power Link In The Country
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This new contract, together with other important underground and submarine HV projects that Prysmian is developing in the whole Middle East, confirms the major role Prysmian is playing in the power transmission network expansion of the region.
Milan - Prysmian, a worldwide leading Group in the sector of cables and systems for energy and telecommunications, has been awarded a strategic contract worth 140 million euro by Qatar General Electricity & Water Corporation (KAHRAMAA)Qatar General Electricity & Water Corporation (KAHRAMAA)
for the development of the first ever submarine cable turnkey project serving Doha, the capital of Qatar. This new agreement follows the 168 million euro contract recently secured by a Prysmian led consortium for the construction of a high voltage underground cable system, and further confirms the strategic role Prysmian is playing in the Middle East as a major utilities partner for the current power transmission network expansion program. Among other projects, Prysmian is currently involved in the construction of the submarine power connection between Saudi Arabia and Bahrain, with the GCCIA (Gulf Cooperation Council Interconnection Authority)GCCIA (Gulf Cooperation Council Interconnection Authority).
Prysmian's know-how and experience in the supply of integrated turnkey solutions has been key to succeeding in this challenging technological and market environment. The Doha project requires the provision of engineering, marine and land surveys and procurement and cable construction, as well as submarine and land installation and commissioning services for 220 kV submarine and underground power cables for a total of 63 km and related accessories. The installation will start in 2009 and is due to be completed at the end of 2010. The cable will be manufactured in Arco Felice (Italy), Prysmian's submarine cable plant.
Qatar, situated in the Arabic Gulf with its abundant petroleum and natural gas reserves, posts double-digit growth rates and invests continuously in the country's infrastructure. This project is representative of the new stage Qatar's Power Transmission Expansion to continue the reinforcement of the main transmission networks and to secure the power supply to industrial and domestic sectors.
The Middle East region has been targeted as a strategic area of expansion for Prysmian. Currently the Group has offices and facilities in Dubai and Abu Dhabi (UAE), Doha (Qatar), Manama (Bahrain) and Kuwait. Other relevant projects under development in the region are: Emirates Aluminum Company Ltd. (EMAL) for the supply and installation of high voltage cables and systems for the world's largest aluminum smelter facility under construction in Abu Dhabi; Fujairah (UAE) and Doha (QATAR) main Transmission Projects (high voltage cables); Pearl GTL, the bigger Oil and Gas project started in 2006 in Qatar, and Ras Laffan Gasfield Downstram Development in Qatar, (industrial cables); Burj Dubai, the highest tower in the world (fire protection power cables) - Palm Island Dubai - Logo Island interconnection (submarine medium voltage cables).
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Prysmian
A leading player in the industry of high-technology cables and systems for energy and telecommunication, the Prysmian Group is a truly global company with sales exceeding 5 billion Euro in 2007 and a strong position in higher-added value market segments. With its two business, 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 36 countries, 54 plants in 21 countries, 7 Research & Development Centres in Europe, USA and South America, and over 12,000 employees. Specialising in the development of products and systems designed to meet clients' specific requirements, Prysmian's key strengths include a focus on Research & Development, the capacity to be innovative on products and production processes, and the use of advanced proprietary technologies. Prysmian is listed on the Milan Stock Exchange Blue Chip index.
For more information, please contact:
Media relations
Lorenzo Caruso
CommunicationDirector
Tel:0039026449.1
Email: lorenzo.caruso@prysmian.com
Investor Relations
Luca Caserta
Head of Investor Relations
Tel:0039 02 6449.1
Email: luca.caserta@prysmian.com
© Press Release 2008
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