The Prysmian Group announced that it has been awarded a contract worth approximately €40 million for a new submarine cable connection between the isle of Capri and Sorrento (Naples) from an Italian transmission system operator.

A press release said that the contract, from Rete Italia SpA, a business of Terna SpA, calls for the turn-key installation of an HVAC 150 kV power cable link between the power stations located in Sorrento and on Capri’s Gasto ecological island, following a 16-km submarine and 3-km land route. The Capri-Sorrento cables will be manufactured at Prysmian’s plant in Arco Felice (Naples), with cable laying done by the Prysmian vessel, "Cable Enterprise." Prysmian will provide all the related network components and required specialist civil engineering works.

The project, which is scheduled for completion in 2019, follows a prior related contract from Terna, the release said. In 2013, Prysmian was chosen to be cable supplier for the Capri-Torre Annunziata project, a HVAC 150 kV submarine cable connection between Capri and the mainland that was approximately 31 km in length.

"It is a source of great satisfaction and pride to be involved in the creation of infrastructure of such strategic importance and prestige for Italy," said Massimo Battaini, senior vice president of energy projects for the Prysmian Group. The second power link will complete the Capri connection ring, increasing the efficiency and reliability of the island’s power system.

The Prysmian Group notes that it has completed a number of important infrastructure projects in the Mediterranean Basin, such as the SA.PE.I. connections (Sardinia-Italian mainland), Sorgente-Rizziconi (Sicily-Calabria), and Capri-Torre Annunziata in Italy; Spain-Morocco, Iberian Peninsula-Mallorca, Mallorca-Ibiza in Spain; and the recently completed longest connection of the Cyclades submarine ring in Greece.

Brazil’s Gerdau S.A. has agreed to sell Optimus Steel LLC its wire rod mill in Texas, and two downstream facilities, for $92.50 million.

A press release said that the deal will include Gerdau’s wire rod mill in Beaumont. The mill has a melt shop capacity of approximately 700,000 tons, and is capable of producing both wire rod and coiled rebar. The sale also includes two downstream facilities: Beaumont Wire Products and Carrollton Wire Products. Beaumont Wire Products. The former was described as a wire mesh mill and the latter as a supplier of industrial wire into the greater U.S. southern region.

The news follow a previous announcement by Gerdau of the sale of four rebar mills and nearly three dozen downstream facilities to Commercial Metals Company for US$600 million. Once the two separate deals close, Gerdau, which was part of a recent trade case seeking to limit the in-flow of low-cost imported wire rod, will be out of that sector.

Gerdau Chief Executive Gustavo Werneck said that the company will “focus on more value-added products.” It will continue to have a considerable presence in North America, with 18 facilities, 15 in the U.S. and three in Canada that produce merchant steel, structural steel and some rebar.