EIB provides €250 million for Nexans' R&D and industrial investments

The European Investment Bank (EIB) has granted €250 million in financing to Nexans, a global leader in cable system design, manufacturing, and services. The loan will support the company's research, development, and innovation programs, alongside industrial investments, for the period 2024-2029.

The investments include the construction of a new factory in Lens, scheduled for completion by 2026. This facility is expected to increase copper wire production by over 50% and enable the recycling of up to 80,000 tonnes of copper annually. Additionally, sites in Charleroi, Erembodegem, and Calais will be strengthened to support growth in offshore wind and submarine interconnections. Capacity expansion is also planned for the Bourg-en-Bresse site to meet rising demand for low-carbon medium-voltage cables.

This €250 million financing is structured into two loans. A €190 million loan benefits from a guarantee under the InvestEU program, which supports innovation, sustainability, and competitiveness in strategic EU economic sectors. The remaining €60 million comes from a separate loan. The financing also aligns with the REPowerEU program's objectives to enhance European energy autonomy.

These investments are crucial for Nexans' strategy to drive the global energy transition and contribute to carbon neutrality by 2050. The EIB financing will enable Nexans to accelerate its innovation, expand production capacity, and secure its supply of copper, thereby bolstering its role in Europe's electrification and industrial independence.