(Reuters) -Italy’s Prysmian has secured a deal with a potential total value of 382.5 million euros ($446.3 million) to supply and maintain high-voltage cables for national power network operator Terna, Prysmian said on Monday.
The three-year contract, which can be extended by one year by Terna, commits the operator to acquire at least 50 km (31 miles) of high-voltage cables each year, and the volume may “rise considerably” based on its requirements, Prysmian said.
The deal will help Terna modernise and upgrade the national electricity grid, in line with the objectives of the European Green Deal and Italy’s national energy and climate plans, Prysmian added.
The company said it would manufacture the cables at its southern Italian plant of Pignataro Maggiore, which recently received over 20 million euros in investment to support an increase in capacity.
($1 = 0.8571 euros)
(Reporting by Laura Contemori. Editing by Alvise Armellini and Mark Potter)
