Nexans confirms commitment to the Great Sea Interconnector
“There is only plan A, no plan B,” said the new CEO of Nexans, Julien Hueber, firmly rejecting speculation that the Great Sea Interconnector (GSI)- the electricity cable linking Greece, Cyprus and Israel- might be at risk.
Speaking to analysts during a conference call on the company’s financial results, Hueber confirmed that the Nexans Great Sea Interconnector project is moving forward as planned.
“The project is progressing, and we are working hand-in-hand with our client,” he said. “We have an absolutely collaborative approach. There is no plan B – only plan A: to continue working with our customer to deliver it.”
‘Excellent relationship’ with ADMIE
Hueber emphasised that cooperation with ADMIE, the Greek Independent Power Transmission Operator, remains “excellent,” rejecting any suggestion of disruption or cancellation.
“Our relationship with ADMIE is outstanding. The project is supported by Europe, and we see no reason for concern,” he said.
Payments, progress and production
Asked whether Nexans continues cable production while payments are pending, the CEO confirmed that the company has already received €250 million, as reported in the first half of the year, and has completed the manufacture of 240 kilometres of cable for the Great Sea Interconnector.
He was more reserved about whether additional invoices have been issued, noting only that “we are in discussions with ADMIE regarding the next steps, including the next payment milestone.”
Hueber declined to provide further details on the project’s financial flow or future outlook, reiterating that “our cooperation with the client is excellent and continues with full commitment.”
Also read: Great Sea Interconnector project faces new uncertainty
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