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Nexans Announces Delay in Great Sea Interconnector Project

Published January 7, 2026, 07:14
Nexans Announces Delay in Great Sea Interconnector Project

The French company Nexans has officially announced that it is in the process of rescheduling the Cyprus-Crete electrical interconnection project (GSI) with ADMIE. This means that the completion of the project, initially scheduled for the end of 2029 or early 2030, will be delayed. Nexans also confirmed that it had canceled previous tenders and informed bidders of changes to the project's design. The company assured that the rescheduling will not affect its financial forecasts for 2028, due to its large backlog of work and the measures it has taken to offset potential impacts from 2026. The new forecasts for 2026 will be presented on February 19, 2026, along with the year's results. Julien Hueber, CEO of Nexans, stated that the company remains committed to supporting ADMIE in completing the project, despite the challenges. He also emphasized that Nexans' PWR transmission sector remains strong and has good growth prospects.