“New infrastructure projects must kick off immediately as well as a national plan for the maintenance of existing works.”

Milan, Sept. 19, 2022 – “All parties involved, companies as well as the Public Administration, must continue to focus on the PNRR. We are in a complex situation from an international economic point of view. However, we have a plan, the PNRR, that makes resources available for investing in infrastructure to somewhat cover a gap which has lasted for decades in Italy. The PNRR is our opportunity. And whatever political path we take, its framework and deadlines must be respected" commented Pietro Salini, Webuild CEO, at the General Assembly of Assimpredil ANCE.   

"PNRR resources are critical for Italy. We cannot risk transfers being suspended or even stopped," Salini added. "We must achieve all the goals and targets set for Dec. 31, 2022, and then for 2023 which guarantee those reforms that Italy has been awaiting for years."  Webuild continues its commitment to implement projects financed by the PNRR, both in the construction sites already under construction, including the high-speed Milan-Genoa, Verona-Padua lines, and some lots of the Naples-Bari line as well as in submitted tenders, amounting to about 3 billion euros in recent months. "We need to get the investments that are already funded off the ground. It is imperative. And we also need a national plan to maintain the existing works. Renegotiating the PNRR would mean reviewing an international agreement negotiated with several counterparts. It is out of the question at this moment in time" Salini added. "A watchtower is required to check that new projects start immediately and proceed unabated." 

Salini added that he feels confident with regard to the expected trend for infrastructural investment in Italy. "Over the next decade, Italian infrastructure spending is expected to grow at an average annual rate of 1.7 percent: a rate higher than the 1.5 percent average expected for the eurozone and pre-pandemic forecasts. It is a clear change of pace from the past, which can have positive spillover effects in various sectors of the Italian economy and on employment."

Speaking on the topic of high prices, Salini concluded by saying, "As with all manufacturing sectors, the last two years have been difficult from a cost perspective. The Italian government has allocated funds for offsetting major works, but they must be carried out. Discussions on theoretical models must be replaced by reality, current prices for companies, introducing structural pricing revision tools in both new and existing contracts, as, moreover, is already happening in the rest of the world."