Hellenic Cables is investing approximately €80 million over a two-year period to expand its subsea cable plant in Corinth, Greece.
This expansion will double the plant's production capacity of submarine cables, increase storage, and improve port facilities in order to meet the growing demand for electrification in the transition to a low-carbon economy.
In order to fulfill its expansion plans, Hellenic Cables has acquired a neighboring property with a total area of 43,000 sq meters. This investment will allow the company to improve the existing manufacturing center for a variety of subsea cables, from medium voltage to extra-high voltage, which are needed in rapidly growing markets such as offshore wind, subsea interconnections, and power-from-shore.
Renewable energy is expected to drive this growth, with most of it coming from offshore wind. Additionally, increased national and international grid interconnections will contribute to energy security.
Alexis Alexiou, CEO of Hellenic Cables and Cenergy Holdings, commented: “This is a turning point in Hellenic Cables' vision to become a key enabler of the Energy Transition with a comprehensive portfolio of products and services that meet the highest standards of quality, safety and sustainability.
“With this investment programme we respond to our customers' and stakeholders' needs and ambitions with concrete actions. It is solid proof of our commitment to support the global effort towards a more sustainable future.”
