Salini Impregilo: contracts for 490M dlr in USA, Oman, Emirates
Rome - Salini Impregilo won contracts totaling 490 million dollars in Oman, Abu Dhabi and in the United States, strengthening the Group's global position as complex infrastructure provider and its leadership in the water and transportation industries. According to its press release, the Group will enter the Oman market with Fisia Italimpianti, after winning a joint bid with the company Abengoa for a 100 million dollar desalination plant for ACWA Power, a private Saudi Lead Developer, and two more developers, Veolia and Dhofar International for Investment and Development Co SAOG. Fisia Italimpianti holds a 51% share of the JV, which will build a 113.650 m3/g desalination plant using Reverse Osmosis (RO) to supply drinking water to the city of Salalah, in the south west of the country. The contract requires completion within 27 months, and is the second win for Fisia Italimpianti in 2017, after the award of a 255 million dollar contract in April, to build a desalination plant in Saudi Arabia. Both projects provide a solution for the growing need for water in the region, which is characterized by desert climate. In Abu Dhabi, Salini Impregilo won a 200 million dollar bid to design and construct a road connecting two of Abu Dhabi's islands, and thus linking the Capital District to the Central Business District, for which the Capital of the United Arab Emirates has set up a development plan by 2030, to stimulate growth. The road connection between the islands of Umm Lafina and Al Reem, which will be completed by 2020, will cross a mangrove reserve, where Salini Impregilo will plant twice as many plants as it lost during the works, following the sustainability requirements the Group established for all its works. In the United States, Lane Construction, a subsidiary of the Salini Impregilo Group, was awarded two road building contracts in Virginia, for a total value of 190 million dollars. The contracts consolidate the Group's foothold in the US market, emphasizing its leadership in the country's road construction industry. The first contract, worth 105 million dollars, regards the building of a road junction at Virginia Beach, and is part of a secondary phase of the I-64/I-264 Interchange Improvements. Works will begin in Spring 2018, with completion scheduled for Fall 2021. The second contract, worth 85.6 million dollars, entails construction of a transit road along the eastern part of the I-66 in the Ballston area. Building works will begin in mid 2018 and will require around 30 months to complete. Working on traffic reduction projects, and hence abating pollution, Lane confirms its commitment to sustainable development. These two contracts in Virginia add to a total new order value exceeding 2 billion dollars in the United States this year alone, thus underlining the fact that the country is the single most important market for Salini Impregilo, which continues its US expansion. The four contracts refer to high growth potential sectors within the global infrastructure market. Focusing on these sectors, Salini Impregilo's strategy has succeeded at increasing orders and thus enabled the group to successfully refinance its debt. Salini Impregilo also gained an upgrade from a rating agency, as well as being nominated world leader in the water sector for the fifth year running.