) recently received an order worth approximately $10 million from
Landsnet, a transmission system operator in Iceland. The contract
involves supplying a high-voltage submarine and underground
power-cable system, primarily to transport electricity from the
mainland to the volcanic island of Heimaey.
Among the Vestmannaeyiar archipelago, which is off the
southern coast of Icleand, Heimaey is the only island, which is
populated primarily by the fishing community.
The new high-voltage submarine and underground cable-system
that will be delivered by ABB will replace the existing one that
is expected to expire. The cable-system to be built by ABB is
expected to increase the transmission capacity of the already
existing power link to ensure uninterrupted and dependable
electricity supplies for the people in Heimaey Island.
ABB will be responsible for the design, engineering, submarine
cable laying joints and terminations, testing and commissioning.
ABB is a renowned supplier of high-voltage cable systems and
setting up of services for submarine and underground power
The entire length of the cable-system of 17.5 kilometers will
be delivered by ABB, which will also comprise a 13km submarine
section, a 4.5 km underground section and a fiber-optic cable
primarily for telecommunications and temperature control.
With an experience and expertise of more than 100 years in
cable systems, ABB has a proven record of ground-breaking
increasingly competent, dependable and proficient high-voltage
cable technologies, including the world's longest and most
powerful AC and DC power cables.
Based in Zurich, Switzerland, ABB Ltd. is a power and
automation technology company and currently has a Zacks Rank #2
(Buy). One of the company's competitors, which is worth
considering at this moment is
), which also has a Zacks Rank #2 (Buy).
Emerson Electric Company
) is good pick despite it being a Zacks Rank #3 stock, given the
company's performance and the number of new orders it is
ABB LTD-ADR (ABB): Free Stock Analysis Report
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