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39. SUBSEQUENT EVENTS
On 3 February 2015, the Prysmian Group signed a Memo-
randum of Understanding with Transelectrica, a Romanian
electricity transmission system operator, Unicredit Bank
and the law firm Tonucci & Partners to carry out studies and
analyses on the potential development of a submarine link
between Romania and Turkey. The memorandum’s aim is to
support further development of the region’s energy sector, by
offering Romanian power suppliers the opportunity to export
their surplus generation to other countries such as Turkey.
The Prysmian Group also announced the construction of new
optical cable manufacturing facilities within Slatina’s new
Industrial Park; the new facilities will be capable of producing
a full range of new generation optical fibre cables to support
the most advanced applications and usages by public and
private, national and international operators, having obtained
all the required quality certifications. Phase one of the project
is due to reach completion by 2017. By the end of the project,
the new plant will also have created 300 permanent jobs. The
Group also plans to start production in Slatina of high voltage
submarine cables for power transmission lines up to 150 kV;
completion of the project and commencement of production
are scheduled for July 2015. Lastly, with the goal of further
developing highly skilled local human resources, Prysmian
has also announced the launch of an international training
programme in support of its industrial development with the
recruitment of new and qualified local staff.
On 6 February 2015, Prysmian Cavi e Sistemi S.r.l. started
legal proceedings, requesting that the claims brought by
Pirelli & C. S.p.A. be rejected in full and that it should be Pirelli
& C. S.p.A. which holds harmless Prysmian Cavi e Sistemi
S.r.l., with reference to the alleged infringement in the period
18 February 1999 - 28 July 2005, for all claims made by the
European Commission in implementation of its decision and
for any expenses related to such implementation.
On 11 February 2015, Prysmian was awarded a new contract
worth a total of approximately Euro 60 million by Iberdrola
Renovables Offshore Deutschland GmbH - a German subsi-
diary of Iberdrola, the world-leading developer and operator
of wind farms - to supply and install wind turbine inter-array
cables for theWikinger offshore wind farm, located within the
West of Adlergrund cluster in the German Baltic Sea. Under
the Wikinger contract, Prysmian is responsible for the design,
manufacture, installation, burial, termination and testing of
81 km of 33 kV submarine cables in different cross-sections
to connect the 70 wind turbines and an offshore substation
that form the 350 MW wind farm. Cables will be produced at
Prysmian’s facility in Drammen, Norway, one of the Group’s
centres of excellence for submarine cables. Installation work
is scheduled to be complete by the end of 2016.
On 16 February 2015, the Prysmian Group was awarded two
major new orders worth a total of more than Euro 50 million
for projects to expand the power transmission system in
Kuwait. More specifically, the contracts refer to the “MEW
06 Jaber Al Ahmed City” project, awarded directly by MEW -
the Kuwait Ministry of Electricity & Water - and the “Jamal
Abdel Al Nasser Street” project, awarded by ROBT (JV), a joint
venture of Rizzani de Eccher-OHL under a wider contract with
MPW – the Kuwait Ministry of Public Works - on behalf of
MEW as end-user. The “MEW 06 Jaber Al Ahmed City” project
is part of the plan to expand Kuwait’s power transmission
with a view to strengthening its main transmission networks
and securing power supplies for industrial and residential
users throughout the country. The “Jamal Abdel Al Nasser
Street” project is part of the plan to upgrade and transform
one of the main traffic arteries running through the middle
of Kuwait City into an expressway, a process that will involve
diverting an underground electricity line. The contracts
involve the design, engineering, supply, construction, instal-
lation and commission of HV underground cable systems,
requiring a total of 210 km of 132 kV cable and related network
components for both projects that will be executed by the
Group’s offices in Kuwait. Installation will start in 2015 with
completion scheduled in 2016.
Milan, 25 February 2015
ON BEHALF OF THE BOARD OF DIRECTORS
THE CHAIRMAN
Massimo Tononi