Cable producer Hellenic Cables, part of Belgium’s Cenergy Holdings SA (EBR:CENER), said today it will invest about EUR 80 million (USD 86.6m) over two years to prepare for growing demand driven by the electrification and energy transition.
The investment programme includes an expansion of the company’s subsea cable factory in Corinth, Greece. This will involve doubling the production capacity for submarine cables, providing the facility with additional storage and upgrading its port facilities. The company has bought a neighboring 43,000 sq.m. (462,848 sq ft) property as part of the expansion.
Through the investment, Hellenic Cables aims to be better able to serve growing demand from sectors such as offshore wind, subsea interconnections and power-from-shore.
Hellenic Cables has three main cable production plants, two in Greece and one in Romania.
(EUR 1 = USD 1.083)
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