Prysmian- Ravin JV to target 10% market share in India’s cables sector

• Focus on high-tech cables for utilities and industrial sectors

 • New organisational structure in place: Luigi Sarogni appointed CEO and Vijay Karia, Chairman & Managing Director

 Prysmian a leading worldwide player in the energy and telecommunications cables industry, and Ravin Cables Ltd, its Indian JV subsidiary, presented their development strategies and growth objectives for the Indian market.

“Our commitment is to establish a credible and sustainable full range cables supplier in the Indian market, targeting a 10% market share” said Mr. Fabio Romeo, the Prysmian Group’s Chief Commercial Officer, at a meeting with Indian journalists in Mumbai. “Furthermore, by leveraging on Prysmian’s state-of-the-art technology, expertise and capabilities, we believe Ravin Cables can become one of the top-3 cable systems supplier in India. To deliver these ambitious objectives, we are committed to implementing a long-term investment programme involving resources, training, technologies and manufacturing facilities. Our initial plan is to invest in a new High Voltage cable manufacturing unit of up to 220 kV as well as to improve Ravin’s product offer in the industrial cables market in sectors that include automotive, mining, OGP and renewable energies”, he added.

As part of its worldwide expansion strategy in high growth countries and in the high-tech cables and systems sector, Prysmian acquired a 51% stake in Ravin Cables early in 2010, thus entering into a joint venture agreement with the Karia family that now controls 49% of the company.

Ravin Cables’ Board of Directors appointed Luigi Sarogni as Chief Executive Officer and Vijay Karia as Chairman and Managing Director of the Board of Directors. “Thanks to the integration with Prysmian, we will be able to bring to India state-of-the-art cable technologies that were scarcely available before”, said Vijay Karia. “Ravin Cables can now meet the requirements of utilities as well as industries involved in projects of up to 500 kV for the upgrade and development of power transmission and distribution networks.” 

 “I have accepted this challenge with confidence”, says Sarogni, “because I believe the integration of Ravin Cables with Prysmian could create a strong player, supported by the know-how, technology and experience of the sector’s global leader and by the dynamism and competitiveness that characterizes Ravin Cables on the Indian market”.

The integration has started yielding its first business results. Reliance Infrastructure has awarded Ravin Cables contracts for developing 220 kV systems for various sites. For the first time, cables and network accessories produced by Prysmian will be provided to the Indian market. In particular, Ravin Cables will supply some 52 KMs of 220 kV High Voltage cables, including joints and terminations, in Mumbai . The cables will be manufactured at Prysmian’s most advanced plant, capable of producing cables of up to 500 kV.

The Indian High Voltage cables and systems market is expected to grow strongly, doubling in size over the next three years, thanks to the country’s dynamic economy and the need to rapidly develop the power grids. The Group is considering starting local production of High Voltage cables at Ravin Cables’ facility in Pune, bringing to India technologies that currently are scarcely available.