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France's RTE indications billion euro cable supply arrangement with European manufacturers

France's electricity transmission system operator RTE on Tuesday announced a billion euro ($ 1.09. billion) agreement with European suppliers, consisting of fibreoptic. cables maker Nexans, to support its projects through. 2028.

RTE also announced the signature of supply contracts with. Greece's Hellenic Cables, Italy's Prysmian. in addition to Copenhagen-listed NKT.

WHY IT IS IMPORTANT

RTE preserves and develops the high and extra-high voltage. network in France, consisting of 7,000 km of underground lines. The. French grid, which is the most extensive in Europe, features 37. affiliations with its neighbouring nations.

KEY QUOTE

These contracts highlight how the investments made by RTE. to upgrade the French grid can add to establishing. work and economic development in France. They likewise show. RTE's decision to sign up with forces effectively with other. commercial partners to adapt the French grid to support the. country's shift towards carbon neutrality by 2050, RTE. stated in a joint news release.

BY THE NUMBERS (Key information points)

The contracts consist of the supply and setup of around. 5,200 km of underground cable televisions, which will be exlusively. produced in Europe. The production, for an overall cost of 668. million euros, will occur for one 3rd in France,. reserving practically all of the French production capability still. available up until 2028, RTE stated.

(source: Reuters)