The European Investment Bank (EIB) and Prysmian have signed a €450 million finance contract. Prysmian will use the EIB funds to build new production lines for extra-high-voltage submarine cables, lines for high-voltage onshore cables, and other technical improvements to existing lines.
The EIB-financed investment will enable Prysmian to double its production capacity for extruded cables at its three factories in Pikkala (Finland), Pozzuoli (Italy), and Gron (France) from around 2,000 km a year to over 4,000 km a year. This contract follows previous agreements between Prysmian and the EIB. In the past, the EIB has backed Prysmian’s research and development across Europe, helping to support its production centres of excellence while promoting clean and renewable energy with interconnections between integrated renewable resource systems via cable solutions.
