EU Subsea Cable Project Under Investigation
European prosecutors are investigating potential criminal activities linked to a 1.9 billion euro EU-funded subsea electric cable project connecting Europe and the eastern Mediterranean. The Great Sea Interconnector, managed by Greece's IPTO, faces delays and scrutiny over its budget and feasibility. Cyprus's president confirmed the ongoing inquiry.
European prosecutors have launched an investigation into potential criminal offences associated with a 1.9 billion euro EU-financed project aimed at constructing a subsea electric cable to link Europe with the eastern Mediterranean, as reported by Cyprus's president.
The Great Sea Interconnector, a crucial project helmed by Greek power grid operator IPTO, seeks to connect European and Cypriot transmission networks and eventually extend to Israel. Despite Greece's renewed support for the project in March following reports of financial and geopolitical hurdles, the project has encountered substantial delays, prompting Cyprus to seek clarification on its cost and feasibility.
According to Cypriot President Nikos Christodoulides, the European Public Prosecutor's Office has initiated an inquiry into possible criminal activities related to the project, following complaints. The probe's specific targets remain unspecified. Meanwhile, neither IPTO nor the EPPO has provided comments on the matter.
(With inputs from agencies.)
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