The cable manufacturer NKT has announced the extent of its investment plans for the Swedish cable factory in Karlskrona. With investments worth more than SEK 11 billion, NKT is preparing for future growth driven by the transition to renewable energy in both Sweden and the rest of the world.
The green transition requires energy cables, and with the Swedish factory in Karlskrona, NKT is one of the world's leading manufacturers of high-voltage cables. Now NKT announces further investments in the factory in Karlskrona to meet the increasing demand on the market.
NKT expects to invest close to SEK 11 billion in building a new, complete factory including a third 200 meter high cable tower that adds production capacity next to the existing facility. This will make it the world's largest facility for the production of high-voltage cables at sea. The investments also include a new, market-leading cable-laying vessel with a record high capacity compared to existing vessels on the market.
- With the investments in Sweden, we continue to strengthen our turnkey capability and our position as one of the leading power cable companies on the market. The expanded production and installation capacity is important so that we can continue to meet the growing demand for sea-based energy cables. We look forward to supporting the accelerating market for offshore wind from our location in Karlskrona, says Claes Westerlind, CEO of NKT.
NKT expects that the investments will have created 500 new jobs when the expansions are put into operation as planned from 2027. NKT is one of the largest private workplaces in Blekinge and with these investments now continues its commitment to the local community.
Read the entire press release here (in swedish): https://www.nkt.se/pressmeddelanden-och-evenemang/nkt-redo-foer-miljardinvestering-i-ny-svensk-kabelfabrik-och-installationsfartyg-for-kraftkablar
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