Prysmian invests to grow in Romania

The company's new development plans comes in conjunction with the signing of a Memorandum of Understanding to study a submarine connection between Romania and Turkey. The MoU was signed with Transelectrica, a Romanian Transmission and System Operator, Unicredit Bank and the law firm Tonucci & Partners, to carry out studies and analyses on the potential development of a submarine cable connection between Romania and Turkey. The company has also made two new major industrial investments worth a total of around EUR 30 million. New Optical Cable facilities in Slatina to double production capacity within 2017 The first investment is related to the construction of new optical cable facilities located within Slatina's new Industrial Park. The new plant will be able to produce full range of new generation Optical Fibre cables to support usages from public and private, national and international Operators. The project is planned to reach completion of its first phase within 2017. Part of the production volume will be for Export at regime. Prysmian is planning to double the current production capacity within 2017 and reach three times current production capacity by 2020 passing from a yearly production of around 2.5 Million km of optical cables to around 8 Million km. The new plant will also provide 300 permanent jobs, by the end of the project. New High Voltage production facility in Slatina The Group has also planned to start in Slatina the production of high voltage cables for underground power transmission lines up to 150 kV. The new facility will serve both the internal market in Romania, and the export market. Completion of the project and beginning of production is scheduled for July 2015. “We have completed our first investment started in 2013 well ahead of schedule and reached our goal of doubling production capacity”, says Francesco Fanciulli CEO Prysmian Central Europe. "Now we are ready to move further also thanks to the support ensured by the Romanian Government and the local Slatina institutions. For sure here we have found ideal conditions to invest and develop local technical skills and know-how”.