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    Home > Chemicals Industry > International Chemical > Prysmian plans to build a new submarine cable manufacturing plant in the United States for $200 million

    Prysmian plans to build a new submarine cable manufacturing plant in the United States for $200 million

    • Last Update: 2023-01-03
    • Source: Internet
    • Author: User
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    Prysmian Group is advancing its project to build a new submarine cable plant in the United States, confirmed to land at Brayton Point
    , Massachusetts.

    Recently, Prysmian Group and CDC Business Development Corporation announced the signing of a contract for Prysmian to purchase the premises
    at Brayton Point (Massachusetts).

    The final acquisition of the site is contingent upon obtaining state permits
    for the construction of the new plant.
    The total investment in the construction of the new plant by the Prysmian Group will amount to approximately US$200 million
    .

    Thanks to Prysmian's $900 million total cable placement project with Commonwealth Wind and Park Wind City offshore wind projects, Prysmann is one more big step
    closer to achieving a localized submarine cable production footprint in the United States.

    Hakan Ozmen, Executive Vice President, Prysmian Group's Projects Business, commented: "We are very pleased
    with the agreement with CDC and the progress of our project to build our new facility at Brayton Point.

    "I want to especially thank the Massachusetts government for its focus on this important project that will enable the area where the former Somerset coal-fired power plant is located to be converted into production to support America's energy transition
    .
    " The new facility will allow us to provide closer support to our customers and gain a strong competitive advantage
    in a market that is expected to experience dramatic growth.
    " ”

    According to Biden's plan, 30 GW of new offshore wind capacity
    will be installed by 2030.

    Prysmian Group is advancing its project to build a new submarine cable plant in the United States, confirmed to land at Brayton Point
    , Massachusetts.

    Recently, Prysmian Group and CDC Business Development Corporation announced the signing of a contract for Prysmian to purchase the premises
    at Brayton Point (Massachusetts).

    The final acquisition of the site is contingent upon obtaining state permits
    for the construction of the new plant.
    The total investment in the construction of the new plant by the Prysmian Group will amount to approximately US$200 million
    .

    Thanks to Prysmian's $900 million total cable placement project with Commonwealth Wind and Park Wind City offshore wind projects, Prysmann is one more big step
    closer to achieving a localized submarine cable production footprint in the United States.

    Hakan Ozmen, Executive Vice President, Prysmian Group's Projects Business, commented: "We are very pleased
    with the agreement with CDC and the progress of our project to build our new facility at Brayton Point.

    "I want to especially thank the Massachusetts government for its focus on this important project that will enable the area where the former Somerset coal-fired power plant is located to be converted into production to support America's energy transition
    .
    " The new facility will allow us to provide closer support to our customers and gain a strong competitive advantage
    in a market that is expected to experience dramatic growth.
    " ”

    According to Biden's plan, 30 GW of new offshore wind capacity
    will be installed by 2030.

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