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| 2012 aNNual rEpOrT prySmiaN grOup
CONSOlidaTEd FiNaNCial STaTEmENTS >
DIRECTORS’ REPORT
PRINCIPAL PROJECTS ACQUIRED
AND COMMERCIAL INITIATIVES
IN THE PERIOD
At the start of February 2012, the Prysmian Group secured a
record contract worth approximately Euro 800 million - the
highest ever reported in the cable industry – for the Western
HVDC Link project to develop a new submarine power line
between Scotland and England. The entire turnkey project
will be carried out by a consortium between Prysmian and
Siemens, with the latter responsible for the converter stations.
The total value of the contract awarded to the consortium by
NGET/SPT Upgrades Ltd, a joint venture between National
Grid Electricity Transmission, the British grid operator, and
Scottish Power Transmission, the Scottish grid operator, is
about Euro 1.1 billion. The project is scheduled to be completed
by the second half of 2015.
Draka Elevator, a Prysmian Group brand, has been selected by
two major OEM specialist elevator manufacturers to supply
high-tech cables and accessories for the elevators in the new
World Trade Center in New York City. Buildings 1 and 4 are
currently under construction. The contracts entail supplying
a wide range of standard and custom-designed cables and
related accessories for installation in more than 100 elevators.
One World Trade Center will reach a height of over 634 metres.
Draka Elevator’s cables will be used to provide power for
elevator buttons, communications and emergency safety
devices and more. Some of the cables will include fibre optic
sub-units, which will be used for communications throughout
the World Trade Center complex. The cables and accessories
are being manufactured at Draka Elevator’s Rocky Mount
plant in North Carolina.
At the end of March, Prysmian announced the start of work
on a contract worth more than Euro 50 million to supply
203 km of 220 kV high voltage AC cable and related network
components to upgrade the electricity grids operated by
GECOL (General Electric Company of Libya) in Tripoli and
Benghazi. The contract, due to be carried out for PEWCO
(Public Works Electric Company), also includes the supply of
optical cables for grid monitoring. Cable delivery started in
2012 and will be completed in 2013. The project in question
had been cancelled during 2011 due to the outbreak of war.
In May, the Vietnamese utility company EVNSPC (Southern
Power Corporation under Vietnam Electricity) awarded the
Prysmian Group a contract worth Euro 67 million.
SIGNIFICANT EVENTS
DURING THE YEAR
