Alpha News

GSI Project Frozen, Timelines Under Review

Published January 7, 2026, 19:19

Nexans, the cable manufacturer for the Cyprus-Greece electricity interconnection project, announced that it is in negotiations with ADMIE to revise the project delivery timelines, effectively confirming its freeze. Nexans assures that it is executing the project in accordance with its contractual obligations, but acknowledges the need for adjustment due to external factors. Despite the expected delay, the company estimates that its financial forecasts for 2028 will not be affected, thanks to its large order portfolio and mitigation measures it is taking. Nexans' official announcement regarding its 2026 forecasts, which will include the 2025 results, is expected on February 19th.