ASTALDI: NEW CONTRACT IN ROMANIA WORTH EUR 356 MILLION FOR THE CONSTRUCTION OF LOT 5 OF THE SIBIU-PITESTI MOTORWAY
Rome, 12 May 2020 – Astaldi Group signed a contract worth EUR 356 million for the construction of more than 30 kilometres of the Sibiu-Pitesti Motorway, the most important section under construction in Romania. The contract was signed in the presence of the Prime Minister and the Minister of Transport of the Romanian Government.
It is an EPC contract and concerns the design and construction of Lot 5 of the Sibiu-Pitesti Motorway, from Km 92+600 to Km 122+950. The planned duration of the works is 60 months, 12 months of which for design and 48 months for construction.
The contract is financed partly with EU funds (85%) and partly with the State budget (15%) and includes the adjustment of contract prices starting from the date of the submission of the bid. Moreover, an advance payment is envisaged in the contract, both at the start of the design phase and at the start of the construction.
The Customer is CNAIR, a state-owned company under the responsibility of the Romania’s Ministry of Transport and Infrastructure for which Astaldi is currently engaged, among others, in the construction of the Braila Bridge, a suspension bridge over the Danube of approximately 2 kilometres in length with more than 23 kilometres of connecting roads, as well as of approximately 20 kilometres of the Ogra–Campia Turzii Motorway (Lot 2).
Astaldi in Romania represents a consolidated business reality since 1991. Over the decades the Group has actively contributed to the country’s infrastructural development performing major strategic public works involving the motorway network, railway links and airport projects, often carried out thanks to the European Community’s budget investments. With this new contract, Astaldi’s order backlog in Romania is now worth more than EUR 1 billion.
The award of this new contract – already evaluated and authorised by the Court of Rome insofar it is consistent and in accordance with the business plan underlying the composition procedure filed by Astaldi S.p.A. on 19 June 2019 – further strengthens the position of Astaldi among the main international contractors in Romania and the achievement of the Composition Plan’s targets for 2020.
ASTALDI GROUP is one of the main Contractors worldwide in the field of complex and strategic infrastructure projects. Active for 95 years at an international level, the Group develops initiatives within the fields of design, construction and management of public infrastructures and large civil engineering works, mainly in the areas of Transportation Infrastructures, Energy Production Plants and Civil and Industrial Buildings, Facility Management, Plant Design and Engineering and Complex Systems Management. Listed on the Milan Stock Exchange since 2002, Astaldi is based in Italy and operates mainly in Europe (Poland, Romania) and Turkey, Africa (Algeria), North America (Canada and the United States) and Latin America. On 28 September 2018, the Company filed an application with the Court of Rome for admission to the composition with creditors procedure pursuant to Article 186-bis, Royal Decree no. 267 of 16 March 1942, as amended and supplemented; this application was accepted on 5 August 2019 and the procedure is still pending.
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