US incentives luring Greek industries

The generous incentives provided in the US Inflation Reduction Act (IRA) is not lost on extroverted Greek businesses. Following the lead of other large European industrial companies, Cenergy Holdings and cement manufacturer Titan are giving their own "vote of confidence" to the US as an investment destination and the Biden administration's $369 billion financial package to support the green transition, from which they will be supported with a total of more than $100 million.

More specifically, Cenergy announced on Monday that through its US subsidiary, Hellenic Cables Americas, it plans to build a new advanced technology cable manufacturing facility in Baltimore, Maryland, at an estimated cost of $300 million, with a final investment decision yet to be made. The Greek company's request to have the investment included in the Qualifying Advanced Energy Project program with up...