Salini Impregilo consolidates in South America. The company presented an offer for the civil component of a project worth a total of approximately 600 million dollars for the expansion of Yacyretà, one of the largest dams of its kind in the world, built by Salini Impregilo in the 90s.
The news gives sprint to the stock which gains more than 6% in Piazza Affari.
“The objective of the new project – as Salini explains in a note – is to increase the plant's electricity production capacity by 9%, currently equal to 3.2 GW, for a further 270 MW.”
As previously mentioned, the group led by Pietro Salini has a decades-long relationship with the dam in question, having participated in its construction until 1998. The construction of what was at the time the longest dam in the world (almost 70 km) continued in stages for over a decade.
“Salini Impregilo is very interested in contributing to the country's new engineering challenges and to the initiatives taken by the government of President Mauricio Macri to invest in infrastructure,” the note continues. Up to 2022, the government has planned an investment of 26,5 billion US dollars in infrastructure projects, also by resorting to the public-private partnership system, which involves private investors
We recall that Salini Impregilo is already present in various sectors in the South American continent: from hydroelectric power to the construction of roads and bridges, railways and subways, up to the construction of the new Panama Canal. From a territorial point of view it is present in Colombia, Brazil, Peru and Argentina.
The willingness to strengthen in South America seems to appeal to investors who continue to keep the title in the spotlight. In fact, today's rise follows the mini-rally carried out on April 30 following the announcement of the willingness to be listed on Wall Street within a year with probable farewell to Piazza Affari.
