MILAN, November 22, 2019 - “We are optimistic because we are seeing signs of a recovery in Italy, with Progetto Italia representing a turning point: it is the largest industrial operation in the history of Italy’s infrastructure sector. It is an operation that, for the first time in Italy, enjoys the broad support of institutions, banks, industrial associations and unions, all of which are united in a single objective: relaunching the sector and seizing the best opportunities at the international level in a particularly favourable moment for the sector, for which it is forecast a global investment trend equal to $79 trillion by 2040.

“Progetto Italia, for the Group and Italy, means investing to strengthen skills, stabilise employment and foster sustainable and responsible growth. It is a long-term vision to relaunch the sector, a vision that has been embraced by CDP, the main financial institutions in Italy, and high-profile institutional investors from Italy, Europe and America.”

These were comments made by Massimo Ferrari, Salini Impregilo’s General Manager, at the 2019 S&P Italy Corporate Event, which looked at the 2020 growth prospects in Europe and the world for Italian and European companies. Presentations were also made by S&P Global Ratings analysts as well as representatives of the institutional, corporate and financial world.

During the panel discussion entitled “Signs of recovery in infrastructure in Italy: are we at a turning point?” Ferrari explained that the true turning point for the Italian infrastructure sector will be the creation of a large group that is able to compete with the main international players. It will be an operation with a solid industrial rationale that aims for economies of scale and access to know-how. It will make more commercial activities more effective and improve the execution of operations. It will also strengthen the ability to invest in innovation, health and safety and attract the best talent on the market. A new rapport between the public and private sectors is needed to develop infrastructure. Rather than the adoption of contrasting positions, there should be a partnership on transparency, quality, worker health and safety and the sustainability of infrastructure. These are determining factors when it comes to competing abroad.

It is a plan that will have tangible effects in Italy, thanks to the impact that it will have on the sector and small, specialised companies that today do not find a big enough market in Italy. In the last three years alone, Salini Impregilo made orders worth nearly €5 billion to Italian suppliers for Italian and foreign projects, giving visibility to small- and medium-sized companies on prestigious projects such as the construction of the Panama Canal with Cimolai, a company with revenues of €500 million. It is also what is happening today with Cossi with its participation in the construction of the bridge in Genoa.

“It is becoming a priority to aim for opportunities on the international market in a context of strong growth in infrastructure at the global level. Investment prospects in the sector are rising 3.6% from $3.4 trillion in 2018 to $4.1 trillion in 2023,” said Ferrari.