Italian Cable Giant Ups Emission Reduction Targets for the Near Term
Italy's Prysmian has adopted a net zero carbon target by 2050 and slightly upped its emission reduction targets for the near term, the world's largest cable maker said on Wednesday.Prysmian - which supplies cables for industries including high voltage power transmission, offshore wind farms and telecoms - said in a statement it was committed to reducing all greenhouse gas (GHG) emissions throughout the value chain by 2050.As part of this plan, the company will cut so-called Scope 1 and 2 emissions by 90% by 2035…
Prysmian Orders New Cable Laying Vessel
Vard Holdings Limited reported having been selected by Prysmian Group for the design and construction of one cable laying vessel. The contract value, including owner supplied special equipment, amounts to approximately €170 million (approximately $205 million).The cable layer is designed by Vard Design in Ålesund, Norway. Vard and Prysmian are currently completing the vessel’s design and according to contract activation scheme the commencement of construction phase is foreseen by end 2018. The vessel is scheduled for delivery from Vard Brattvaag in Norway, in 4Q 2020. The hull will be built at Vard Tulcea in Romania. Several Vard subsidiaries are also involved in the project through deliveries of equipment and solutions.According to Vard…
Prysmian: CNP-1 Subsea Link Launched in Philippines
Prysmian Group, world leader in the energy and telecom cable systems industry, announces the successful commissioning of the submarine power cable link to connect Negros and Panay islands in the Philippines. This is the first stage of the project CNP-1 (Cebu-Negros-Panay phase 1), awarded to Prysmian Group by the Filipino grid operating company NGCP (National Grid Corporation of the Philippines). This project is part of a larger development plan provided by NGCP, to strengthen the Country’s power transmission network. “Prysmian was honored with the award of this project in December 2014 and it has been able to execute the whole works in accordance with the delivery schedule and budget thanks to the close cooperation of NGCP…
Prysmian Upbeat on Submarine Cable Business in 2015
Prysmian SpA, the world's biggest cable maker, is confident of bagging orders this year to keep its high-margin subsea business order backlog at between 2.2 billion euros ($2.4 billion) and 2.3 billion, the head of the unit told Reuters. "The outlook for this year is very positive," Prysmian energy projects head and board member Massimo Battaini said in an interview. Italy's Prysmian, which in 2011 became the world's largest supplier of cables for uses ranging from telecoms to elevators when it took over Holland's Draka, generates around 30 percent of core earnings from its subsea and high-voltage business. The two businesses, which command healthy margins of more than 20 percent, generated core earnings of 1.3 billion euros last year, 75 percent in Europe.
