Approval of Recoverable Expenses for ADMIE and Collaboration with Nexans
September 23, 2024
RAEK and RAAEY approved recoverable expenses of approximately €550 million for ADMIE, allowing the restart of its collaboration with Nexans for the Cyprus-Greece cable project. Full cost recovery will take 35 years, with initial repayments from Cyprus expected by the end of 2025. Greece will cover 37% of the costs through consumer charges. Attention now turns to when ADMIE will issue the full notice to proceed to Nexans.