Prysmian Announces Major Investment in Vessels for Submarine Cable Installation - reNews - Renewable Energy News

Prysmian Announces Major Investment in Vessels for Submarine Cable Installation – reNews – Renewable Energy News

Written by Paulo Nogueira

Published on 21/12/2023 at 06:45

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Monna Lisa Class Installation Vessels of the VARD Group, a Subsidiary of the Fincantieri Group, with Proven Execution Capabilities, in Operation in 2025 and 2027.

The Prysmian Group announced it will make a significant investment of approximately 350 million euros in the construction of two new cable installation ships, which will strengthen Prysmian’s underwater project execution capabilities. The first vessel, which will be an evolution of the Monna Lisa class, will have an approximate length of 185m and a width of about 34m. This new vessel will be equipped with advanced cable installation solutions, including three carousels for a total capacity of 19,000 tons. Built by the VARD Group, a subsidiary of the Fincantieri Group, the first vessel will be operational in early 2027. This investment demonstrates Prysmian’s commitment to stay at the forefront of the subsea cable sector, acting as a reliable leader in installation vessels.

With the growing market, the Prysmian Group is facing an increasing demand for submarine cable systems for interconnections and complex projects, both in Europe and the US. Hakan Ozmen, EVP Projects BU, Prysmian Group, emphasized that ‘this investment reaffirms Prysmian’s crucial role in the submarine cable business and its proven ability to act as a truly reliable and dedicated leader in ready-to-use execution, supporting the long-term growth prospects of the Group’. This strategic investment reflects Prysmian’s commitment to continue expanding its operations and strengthening its position as an industry leader in application in maritime technologies.

VARD Group, a subsidiary of the Fincantieri Group, announces the awarding of the contract for the construction of a Monna Lisa class cable-laying vessel for the Prysmian Group. The vessel will be built at the Vard Braila shipyard in Romania, with delivery expected in the second quarter of 2023. The vessel will have total capacity to carry over 10,000 tons of cable and will feature concentric carousels for cable loading. This investment reinforces the VARD group’s position as a truly reliable leader in complex projects of installation vessels and interconnections of submarine cable systems and offshore wind farm projects.

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The cable-laying vessel will be used by the Prysmian Group to support its rapidly expanding global projects. This strategic investment will reinforce the VARD Group’s proven capability to meet the needs of the ever-evolving market and the growth prospects around power and communications interconnection worldwide.

Roy Reite, CEO and Executive Director of the VARD Group, states: ‘We are very pleased to receive this contract from Prysmian, showing the company’s ongoing confidence in our capability and expertise. This investment is the result of a joint effort and we are proud to support Prysmian in the most demanding underwater infrastructure projects in the world’. The crucial role played by the EVP Projects BU in bringing this contract to the VARD Group only further highlights our leading position in this specialized field.’

Prysmian Announces Major Investment in Vessels for Submarine Cable Installation – reNews – Renewable Energy News

Monna Lisa Class Installation Vessels of the VARD Group, a Subsidiary of the Fincantieri Group, with Proven Execution Capabilities, in Operation in 2025 and 2027.

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Prysmian Announces Major Investment in Vessels for Submarine Cable Installation – reNews – Renewable Energy News

Monna Lisa Class Installation Vessels of the VARD Group, a Subsidiary of the Fincantieri Group, with Proven Execution Capabilities, in Operation in 2025 and 2027.

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