The first step in the implementation of Cenergy Holdings’ investment in Baltimore, USA, has been completed, with its subsidiary, Hellenic Cables Americas, purchasing a waterfront plot at Wagners Point, in an area of approximately 153,800 sq.m.
The company’s Board of Directors announced that it took the final decision to invest in a cable manufacturing plant in Baltimore, Maryland.
The first phase involves the construction of an overland cable plant to meet the growing US need for power transmission and distribution network upgrades, at a cost of approximately 200 million dollars, including the purchase of the property. The design has been completed, the issue of licences is progressing smoothly and construction work is expected to begin by the end of the year.
The second phase will include further expansion for the production of submarine cables, which will, however, depend on the final agreements to absorb the produced cables from the project developers and the related final investment decisions.
In addition, it was announced that, following Ørsted’s decision to review its project on the Atlantic coast (SkipjackWind wind farm), discussions regarding a possible partnership between Cenergy Holdings and Ørsted have been suspended. They will be reviewed later on.
