HELSINKI Dec 23 Finnish grid operator Fingrid
said on Thursday it and Estonia's Elering have picked Nexans
Norway and Siemens (SIEGn.DE) as contractors to build a new
cable fron Estonia to Finland.
The new subsea 650 megawatt Estlink 2 cable is estimated to
start operating in early 2014 and it will almost triple the
electricity transmission capacity between the countries to 1,000
Fingrid said Nexans Norway would lay the cable and Siemens
would build converter substations in Finland and Estonia.
The project is estimated to cost 320 million euros ($420.3
million) and the European Union will provide 100 million euros.
"The planning of all building work and the type tests of the
cable will be launched next. The building work within the
project will be completed in stages so that the cable will be
laid at the bottom of the sea in the summer of 2013," said
Fingrid Chief Executive Jukka Ruusunen in a statement.
(Reporting by Terhi Kinnunen)