Following reports suggesting uncertainty over the progression of the Great Sea Interconnector, Nexans has issued a statement to clarify its position on the project’s status and the timeline agreed with the customer.
Reaffirming its commitments
In its announcement, Nexans states that it continues to execute the project in accordance with its contractual obligations and the milestones defined together with the customer. The company notes that, in projects of this scale, milestones may be adjusted when necessary without affecting the overall delivery.
Nexans also highlights that it has received substantial payments since the start of the project. According to the company, these payments have enabled the manufacture of the cable and eliminate any financial exposure for the Group even if timeline adjustments occur.
Context from recent developments
The announcement follows a series of reports that linked the cancellation of certain procurement processes by Nexans to broader questions about the future of the Great Sea Interconnector. These reports appeared at a time when authorities in Greece and Cyprus are reassessing aspects of the project’s technical and financial framework.
Although the company did not comment directly on the media speculation, its emphasis on continuity, financial stability and adherence to the contract suggests an effort to reassure stakeholders that the project remains active.