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EIB provides €450M to Prysmian for cable capacity expansion · Endata

◂ Announcements

Jul 24, 2024INVESTMENTPikkala (Finland), Pozzuoli (Italy), Gron (France), Finland

EIB provides €450M to Prysmian for cable capacity expansion

The European Investment Bank signed a €450 million finance contract with Prysmian to build new production lines for extra-high-voltage submarine and high-voltage onshore cables at factories in Finland, Italy and France. The investment will double Prysmian's extruded cable production capacity from 2,000 km/year to over 4,000 km/year.

Value

$488.0M (450.0M EUR)

Status

Announced

Capacity

over 4,000 km/year of extruded cables

Productsextra-high-voltage submarine power cableshigh-voltage onshore cables

CompaniesPrysmian European Investment Bank investor

Sectors#Electrical Equipment

“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.”prysmian.com

1 source
prysmian.comEIB provides €450 million to Prysmian to promote European energy transition | PrysmianJul 24, 2024

Summarized from public sources; check the original articles before acting on it.

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Jun 20, 2024EXPANSIONKirkkonummi, Finland$37.5Mops Jun 2026
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Apr 18, 2024CONTRACTNorth Sea, Netherlands; Veerse Meer, Netherlands; Zeeland, Netherlands, Netherlands
DEME wins cable installation contracts from Prysmian for Dutch offshore grid systems
TenneT partner Prysmian customer deme-group.com
Apr 12, 2024ACQUISITIONUnited States$4.20B
Prysmian to acquire Encore Wire for $290 per share
Prysmian acquirer Encore Wire target prysmian.com nsenergybusiness.com
Apr 9, 2024EXPANSIONSlatina, Romania, Romania$25.0M
Prysmian invests €23M in new production line at Slatina energy plant
Prysmian business-review.eu ro.prysmian.com

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