Welcome!

Wireless Authors: Esmeralda Swartz, Tim Hinds, RealWire News Distribution

Blog Feed Post

Prysmian Enters Cooperation Agreement With Rosseti, The Largest Russian Power Grid Company

THE AGREEMENT, SIGNED DURING THE ITALY-RUSSIA BUSINESS FORUM, FOCUSES ON TECHNOLOGICAL COOPERATION IN THE FIELD OF POWER TRANSMISSION AND DISTRIBUTION IN RUSSIA.

PRYSMIAN'S TARGET IS TO STRENGTHEN PRESENCE IN RUSSIA FOLLOWING THE RECENT OPENING OF A FACTORY IN RUSSIA, INVOLVING AN INVESTMENT OF $55 M.

Milan, 26 November 2013 - On the occasion of the Italy-Russia Business Forum, being held today in Trieste, Prysmian Group, world leader in the energy and telecom cables and systems industry, has signed a technical cooperation agreement with JSC "Rosseti", Russia's largest power grid company, to develop power transmission and distribution technology in Russia.

The agreement, signed by Valerio Battista, Prysmian Group CEO, and Oleg Budargin, JSC "Rosseti" CEO, determines development prospects regarding the exchange of information in order to analyse and develop solutions for power transmission systems with voltages of up to 500 kV. The systems in question include high voltage cables as well as joints, terminations and grid monitoring equipment. One of the objectives of this collaboration is to develop post-installation support systems capable of ensuring the continuity of grid operation through prompt intervention and prevention of failures.

"This agreement confirms Prysmian as a partner of JSC "Rosseti", a company engaged in the construction and modernisation of electric power infrastructure in Russia", said Valerio Battista. "Prysmian will make available its array of technologies and know-how developed through years of international experience of constructing power grids around the world. Together we will study solutions that will let "Rosseti" optimise its investments, while augmenting its efficiency and reducing environmental impact."

Investments in Russia's electricity grids have seen a major revival in recent years, and are expected to carry on growing in the medium term. This is behind Prysmian's decision to expand in this country, considered a high-growth strategic market. The Group has been recently involved in building high voltage grids in St. Petersburg and in upgrading the transmission grid in Moscow, and it has also supplied cables of up to 330 kV for the 30 most important Russian power transmission projects of recent years.

As part of a $ 55 million investment in the Russian market to start local production of medium and high voltage cables, Prysmian has recently inaugurated a new factory in Rybinsk in the Yaroslavl region, completing another step in its expansion plans in this country. After the acquisition in 2009 of Rybinskelectrocabel, an established Russian cable manufacturer, the Group's expansion in Russia continued following the merger between Prysmian and Draka, with the integration in 2011 of the St. Petersburg's Neva Cable factory, which makes copper and optical telecom cables.

The Rybinsk plant, which also produces cables for the Oil&Gas industry, fire-resistant low-smoke-zero-halogen building wires and cables for industrial applications, will cover, therefore, the full range of applications in the energy cables business with 35 kV medium voltage cables and 330 kV extra high voltage cables with cross-sections of up to 2,500 mm2 and insulated with cross-linked polyethylene (XLPE). The signing of the technology development agreement with Rosseti, together with the inauguration of this new industrial facility, marks a key stage in the Group's growth plans for the Russian market. The development of local production, undoubtedly, gives Prysmian a competitive edge and will help enhance its presence in this strategic high-potential market.

Prysmian Group
Prysmian Group is the world leader in the energy and telecom cables and systems industry. With over 130 years of experience, sales of some €8 billion in 2012, about 20,000 employees in 50 countries and 91 plants, the Group is strongly positioned in high-tech markets and offers the widest range of products, services, technologies and know-how. In the Energy sector, Prysmian Group operates in the business of underground and submarine power transmission cables and systems, special cables for applications in many different industrial sectors and medium and low voltage cables for the construction and infrastructure industry. In the Telecom sector, the Group manufactures cables and accessories for the voice, video and data transmission industry, offering a complete range of optical fibres, optical and copper cables and connectivity systems. Prysmian is a public company, listed on the Italian Stock Exchange in the FTSE MIB index.

Media Relations
Lorenzo Caruso
Corporate and Business Communications Director
Ph. 0039 02 6449.1
lorenzo.caruso@prysmiangroup.com

Investor Relations
Luca Caserta
Investor Relations Director
Ph. 0039 02 6449.1
luca.caserta@prysmiangroup.com

Source: RealWire

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.