HELLENIC CABLES signed the Contract for the Interconnection

 of Cyclades Islands Project worth Euro 93 million

ADMIE and their appointed Contractor, HELLENIC CABLES, signed a contract today in the presence of the Minister of Environment, Energy and Climate Change and the Minister of Labor, regarding the underground and submarine 150 kV power and optical fiber cable links between Syros and Tinos, Syros and Mykonos, Syros and Paros, as well as 150 kV cable terminations at Tinos. In particular, the contract is referring to the procurement of cables, cable laying, cable protection near coastal areas, and the implementation of the necessary connections to the existing ADMIE network. The project is part of Group B of the Public Tender performed by ADMIE, whose scope is the Interconnection  of Cyclades Islands to the Hellenic Electric Power Transmission System (DAPM-41303/15.10.2013). The project value amounts to Euro 93 million.

The high - technology, high - added value cables are produced by the HELLENIC CABLES Group at the plant of the subsidiary FULGOR in Corinthos. Having completed investments amounting to Euro 55 million, FULGOR operates state-of-the-art facilities and equipment to produce these specialized products. In addition, the company has manufactured medium voltage submarine cables up to 33 kV spanning more than 900 km, as well as more than 2.200 km of submarine fiber optic cables. Acting as a contractor of turnkey projects, the company has installed the majority of submarine power cables and about 1.000 km of submarine fiber optic cables.

This high - profile project positions CABLEL HELLENIC CABLES Group, a VIOHALCO subsidiary, among the few global high voltage submarine cable suppliers that are capable to bid for high - standard international projects. It must be noted that the Cyclades interconnection has multiple benefits for the local communities and the national economy. It is a project whose implementation starts today, under these challenging economic conditions, thanks to the determination and the flexibility of the Management of ADMIE.     

Interconnecting Cyclades with the Hellenic Electric Power Transmission System will constitute a key driver for the development of Cyclades and will ensure optimal environmental and financial terms for the local communities. Furthermore, the project is beneficial for the Greek consumers as well, through the reduction of expenses for utility services.