NEXANS SECURES AROUND € 300 MILLION CONTRACT TO
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Press release
NEXANS SECURES AROUND € 300 MILLION CONTRACT TO SUPPLY LV CABLES FOR INFRASTRUCTURE PROJECTS IN QATAR THROUGH ITS QICC JV WITH AL MIRQAB CAPITAL
CALL-OFF CONTRACT WITH KAHRAMAA TO BOOST INFRASTRUCTURES PROJECTS AND MEET GROWING DEMAND FOR ELECTRICITY IN QATAR
Paris, December 27, 2016 - Qatar General Electricity and Water Corporation (Kahramaa), has recently signed a contract with Nexans for power cables. The contract, worth approximately € 300 million, includes Low and Medium Voltage cables to be used in civil infrastructure projects in Qatar. Through the contract, Nexans will help in meeting the growing demands for energy and facilitating infrastructure development while supplying the cables in Qatar. The supply of cables will connect substations to various infrastructures-oriented projects across Doha and its suburbs such as Doha New Port, Qatar Rail and Metro projects as well as projects needed for 2022 FIFA World cup.
Charles-Edouard Mellagui, Nexans Country Manager and Chief executive Officer of QICC, a Nexans Company, said " Our track record with KAHRAMAA over the past years has been outstanding, with a zero failure rate. We're pleased to be continuing our very successful collaboration, contributing to the Qatar National vision 2030 and accelerate our development into the region in future ."
About Nexans
Nexans brings energy to life through an extensive range of cables and cabling solutions that deliver increased performance for our customers worldwide. Nexans' teams are committed to a partnership approach that supports customers in four main business areas: Power transmission and distribution (submarine and land), Energy resources (Oil & Gas, Mining and Renewables), Transportation (Road, Rail, Air, Sea) and Building (Commercial, Residential and Data Centers). Nexans' strategy is founded on continuous innovation in products, solutions and services, employee development, customer training and the introduction of safe, low-environmental-impact industrial processes. In 2013, Nexans became the first cable player to create a Foundation to introduce sustained initiatives for access to energy for disadvantaged communities worldwide. Nexans is an active member of Europacable, the European Association of Wire & Cable Manufacturers, and a signatory of the Europacable Industry Charter. The Charter expresses its members' commitment to the principles and objectives of developing ethical, sustainable and high-quality cables. Nexans, acting for the energy transition, has an industrial presence in 40 countries, commercial activities worldwide, is employing close to 26,000 people and generating sales in 2015 of 6.2 billion euros. Nexans is listed on Euronext Paris, compartment A.
| For more information, please consult: www.nexans.com |
Contacts:
| Press Angéline Afanoukoe Tel: +33 (0)1 73 23 84 12 angeline.afanoukoe@nexans.com | Investor relations Michel Gédéon Tel: +33 (0)1 73 23 85 31 michel.gedeon@nexans.com |
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