Approval of Progetto Italia

Milan, August 2, 2019 – Salini Impregilo S.p.A. (“Salini Impregilo” or “the Company”) announces the launch of a project aimed at strengthening the national sector of public works and construction (“Progetto Italia” or “Project Italy”), which is part of the Company’s broader industrial plan for the 2019-2021 period (“Industrial Plan”).

For the purposes of developing Project Italy, the Company today has signed two investment agreements. The first investment agreement has been entered into with the controlling shareholder Salini Costruttori S.p.A. and CDP Equity S.p.A. (“CDP Equity”), a company controlled by Cassa Depositi e Prestiti S.p.A., while the second has been entered into with three leading Italian financial institutions (“Financing Banks”).

The investment agreements (together, the “Agreements”) provide for the investment by Salini Costruttori S.p.A., CDP Equity and the Financing Banks, on the same terms and conditions, in the context of the Capital Increase.

Progetto Italia: The Future belongs to its Builders

Progetto Italia (Project Italy) is an operation that will consolidate Italy’s construction sector. It is promoted by Salini Impregilo with the aim of creating a large construction group capable of supporting the sector during its recovery and improving the competitiveness of Italian companies in international markets.

It envisions the creation of a Group of global scale whose financial strength, human capital, experience, capacity to innovate will enable it to compete with the biggest international players.

The initiative is a growth opportunity to relaunch the construction sector in Italy: A solid project, supported by institutions and banks to build the future, together.

A great new infrastrcutre Group in Italy

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The Project's Characteristics and Objectives

Progetto Italia is an industrial operation to be executed over the long-term to create a national construction hub and bring together in a new company some of the biggest sector players in Italy.

The new company will focus on large infrastructure projects exceeding €250 million.

By bringing together the sector's specialisations, the Group will be more competitive on the international markets, reaching a scale that is aligned with those of its competitors in order to seize the best opportunities on the markets.

This strengthening of the sector will create further specialisations in Italy, creating more employment for Italian citizens both at home and abroad.

Progetto Italia. Total Package

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  • The reference global market has € 630 billion of large, ongoing projects for the coming years

  • ISalini Impregilo's international peers are very large, with a strong presence in their domestic markets (60% of the 250 top players make 75% of their turnover in their respective domestic markets)

  • In Italy, the sector is strategic (~ € 160 billion, 8% of the GDP and >1m of jobs)

  • The unblocking of € 36 billion worth of public works in Italy is an important opportunity to strengthen the segment's growth and employment levels.

info cantieri ENG 1920
info cantieri ENG 1920

Results at a country-system level:

  • Contribute to GDP growth

  • Support employment, with about 300,000-400,000 jobs saved

  • Act as the driving force for the entire sector through more than 30 related economic sectors

  • Guarantee the construction of ongoing and future infrastructure projects in Italy

  • Increase productivity levels

  • Support the sector's ability in innovation, sustainability and safety