# 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.

- Type: Investment
- Announced: 2024-07-24
- Where: Pikkala (Finland), Pozzuoli (Italy), Gron (France), Finland
- Value: $488.0M (450.0M EUR)
- Status: announced
- Capacity: over 4,000 km/year of extruded cables
- Products: extra-high-voltage submarine power cables, high-voltage onshore cables
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Prysmian](https://endata.com/companies/968.md)
- [European Investment Bank](https://endata.com/companies/10295.md) (investor)

## Sources

- [prysmian.com](https://www.prysmian.com/en/press-releases/eib-provides-euro-450-million-to-prysmian-to-promote-european-energy-transition), 2024-07-24: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.