Salini increases stake in major Italian rail project

Salini S.p.A. and Impregilo S.p.A. have announced that Impregilo has signed an agreement with Tecnimont S.p.A., a subsidiary of Maire Tecnimont S.p.A., to acquire a further 10% stake in the COCIV Consortium, the general contractor for the construction of Italy’s Terzo Valico Ferroviario dei Giovi project (Milan-Genoa high-capacity, high-speed railway line), for a price of around €25M. The complete 52km long line features some 40km of tunnels under construction.

Completion of the transaction sees the Salini Group holding a total stake of 64% in the COCIV Consortium, whose contracted works for the construction of the Terzo Valico project amount to around €4.6bn.