- Published: 18 February 2022 18 February 2022
Prysmian Group is moving ahead with its project for a new submarine power cable plant in the USA. Prysmian Group and CDC Commercial Development Company announces the signing of the contract for the purchase by Prysmian of the site identified in Brayton Point (Massachusetts).
The final acquisition of the site is subject to securing state permits for the construction of the new plant. Prysmian Group’s total investment to build the new plant will amount to around US$ 200 million. Finalisation of the plans for the US localisation of the production footprint of submarine cables also entails confirmation of the award of the projects for cabling the Commonwealth Wind and Park Wind City offshore wind projects, for a total of approximately US$ 900 million, by Avangrid Renewables.