Prysmian beefs up submarine cable installation potential with new vessel

Italian cable maker Prysmian SpA (BIT:PRY) said last week its cable lay vessel Ulisse is ready for operation, increasing the company's offshore cable installation capacity.

Prysmian now has a fleet of three vessels. It has invested EUR 20 million (USD 22m) in the latest ship, which was acquired from EOS and converted into a cable layer at the PaxOcean shipyard in Singapore.

Ulisse's first project will be the Negros-Panay connection in the Philippines. The EUR-90-million job was awarded in December 2014 and involves the design, supply, installation and commissioning of a high voltage alternating current (HVAC) 230-kV submarine cable system along a 22 km (14 mile) route across the Guimaras Strait.

"Our objective is to have a more comprehensive control of our supply chain by insourcing a greater part of the installation work and to further boost the Group’s submarine project execution capabilities with a flexible asset that can both transport submarine cables and perform cable lay and burial installation operations in shallow waters," said Massimo Battaini, energy projects senior vice president at Prysmian Group.

(EUR 1.0 = USD 1.100)

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