CDP Group, Fincantieri, FS Italiane Group, Snam, Terna and the Institutions of the Territory sign a protocol to support the city of Genoa
Press release

CDP Group, Fincantieri, FS Italiane Group, Snam, Terna and the Institutions of the Territory sign a protocol to support the city of Genoa

Rome - Genoa, November 19, 2018

The Cassa depositi e prestiti Group, together with Fincantieri, the Ferrovie dello Stato Italiane Group, Snam and Terna, launches a series of initiatives aimed at supporting the city of Genoa and its metropolitan area, which has been severely affected by the collapse of the Morandi Bridge. To this end, a Memorandum of Understanding has been signed by the Delegate Commissioner, the Special Commissioner for Reconstruction, the Liguria Region, the Municipality of Genoa, the Authority of the Western Ligurian Sea Port System and the FILSE (Finanziaria Ligure per lo Sviluppo Economico), to support the economic recovery of the city through a series of diversified measures targeted at helping public bodies, the infrastructural system, businesses, families and finding a solution to the housing emergency.

  • Financial support to public bodies: CDP has offered to support the local authorities of the affected area by pausing the payment of loan installments for 2018 and 2019. This will free up resources to address the emergency and begin economic recovery efforts in the region.
  • Support for infrastructures: CDP, Fincantieri, FS Italiane Group, Snam and Terna, and also through their subsidiaries, will provide support to the areas affected by providing their technical and design expertise. The companies aim to support the development of the city and generate benefits for the community, including strengthening the port and local transport system, which are both crucial to the region's economic recovery, and favoring intermodality. In particular:
    • CDP, in addition to its role as a potential lender, will provide support to the Public Administration to implement public-private partnerships;
    • Fincantieri will provide the project for the construction of a steel bridge on the Polcevera and for upgrading infrastructure at the Sestri Ponente shipyard;
    • FS Italiane Group may contribute to upgrade public transport services, both rail and road, according to sustainability and intermodality, as well as helping to construct and expand interchange infrastructures near railway stations, in addition to increasing road and railway accessibility to port areas;
    • Snam may construct infrastructure for sustainable transport, developing biomethane plants and liquefied natural gas supply stations (CNG / LNG) for local, private and road transport. Additionally, it may aid initiatives aimed at reducing emissions in the Genoa port area and the energy requalification of city buildings, as well as consolidating gas distribution infrastructure in the region. The company will also provide training courses on energy transition;
    • Terna may aid in improving Genoa's electricity transmission network and will partner with the University of Genoa to promote studies or research focused on energy and the environment.
  • Solutions for the housing emergency: CDP - together with its subsidiaries CDP Immobiliare and CDP Investimenti Sgr - has already provided families with housing at the "Palazzina ex Casa delle Infermiere": a development with an area of 2,200 square meters, subdivided in 40 furnished apartments. The building is able to accommodate over 100 people. An extensive urban regeneration project is also being implemented, which includes further real estate redevelopment and social housing.
  • Support for businesses and families: CDP, in collaboration with the Commissioners, the Region and FILS, will look to launch a set of initiatives to support families and businesses using a combination of their own resrouces and public funds. They may also look at launching one or more financing operations to aid economic recovery in the region and support a revival of the regional production system.

This agreement represents an important step towards Genoa and its entire metropolitan district's recovery, which comprises a key area in country's economic fabric. Thanks to the collaboration of the institutions and companies that have signed this agreement, it will be possible for families and businesses affected by the collapse of the bridge to begin to return to normal. By virtue of the integrated approach outlined above, the project represents a further step towards the CDP Group's territorial plan, a program aimed at economic and social development, which was formed on the basis of the specific needs and requirements of the different local communities and which will be presented in the Group's next Business Plan.

"The agreement with Cassa depositi e prestiti is an important step to help start restoring Genoa after the collapse of Morandi bridge - declared the president of Regione Liguria Giovanni Toti -. In the last three months, institutions have worked tirelessly to implement structural work and overcome the emergency. From housing emergency being immediately tackled, with all displaced people given a home, to the opening of new alternative transport routes, in addition to implementing an extraordinary school transport plan. Much remains to be done and above all we still need to rebuild the bridge. In the hours immediately following the collapse, the Liguria Region partnered with Cassa depositi e prestiti and the whole group, for an efficient and impactful response to the housing crisis. This agreement looks to strengthen this existing partnership. We can only thank CDP for its commitment to Genoa and the surrounding areas and its support to businesses and families, infrastructure and public bodies".

The Mayor of Genoa, Marco Bucci, commented: "I am proud to see the great response in terms of big companies providing the city with technical and technological expertise and infrastructural and financial support. I am particularly grateful to Cassa depositi e prestiti, Fincantieri, Snam, Terna and to FS for the contribution they are currently providing to Genoa, their support is greatly appreciated, and is reiterated today with this agreement".

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