Transelectrica and Prysmian sign agreement for Romania-Turkey submarine cable

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Transelectrica and Italian company Prysmian PowerLink will form a team of experts and specialists to prepare studies and analysis of the technical, commercial, financial and legal implications related to the financing and construction of the submarine cable of electricity transmission between Romania and Turkey.

The operation will be performed under a memorandum signed on Tuesday at the government, which aims to analyze the pre-feasibility of the project already developed by Transelectrica, in 2008-2012, to establish the best conditions in which to be identified the actions for conducting the studies and for drafting the final feasibility report, as well as for prospecting the project for potential investors.

Present at the ceremony, Prime Minister Victor Ponta said that Romania is an important producer of electricity and needs foreign markets because the production has already exceeded the domestic consumption.

Talks between Romania and Turkey regarding the electricity transport cable began in 2006. At that time, the investment was estimated at EUR 400-500 million.

Prysmian will also invest around EUR 30 million in the construction of a plant of power transmission cables and in the capacity expansion of a unit manufacturing optical cables, both projects following to be carried out in Slatina.

The start of the high-voltage cables’ production is estimated for July.

Prysmian will also expand the production capacity of an optical cables’ factory built in 2013 in Slatina following an investment of EUR 20 million.

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