Alien From the Deep

Alien From the Deep or "Alien of the Abyss" is a 1989 Italian-Filipino horror sci-fi action monster movie directed by Antonio Margheriti. The movie is a ripoff of the movies "The Abyss" and "Alien".
Plot.
Two members of Greenpeace discover that a local factory dumps radioactive waste into an active volcano, which has created a terrifying alien-like creature in the bottom of the sea, who wreaks havoc in the area.