Under the hood of Italy’s economy and away from the limelight of the stock exchange, Italy’s proverbial industry dynamism is remarkable.
Small to medium enterprises, especially in manufacturing, drive the economic growth and Italy’s export, US$481 billion in 2020, according to OECD. Italy’s Panariagroup through its sister company Lea Ceramiche, won the bid to cover 50% of the subway Grand Paris Express project. This is one of the largest infrastructure works in Europe: four new railway lines, for a total of 200 kilometers of track (98% underground) and 68 stations. Started in 2020 and expected to be fully operational in 2030, the project was one of the pillars for assigning France the 2024 Olympics. Lea Ceramiche teamed up with other leading Italian players: Mapei, CS Group e Pedrazzini.
Wine exports continue to be one of Italy’s economic strongholds. According to Nomisma Wine Monitor, a study center, wine exports topped US$8 billion. Prosecco confirms its sales leadership, the consumption of Italian bottles abroad grew by 12% last year.
Ferrovie dello Stato, a company owned by the Italian state, together with Italo, bought by the GIP fund in 2018 for US$ 2 billion, compete in Italy’s high-speed trains market. Turin, Milan, Venice, Bologna, Florence, Rome, Naples and Salerno are today connected via high speed, approximately 650 miles of railway. Freccia Rossa 1000, Ferrovie’s top train, travels at a maximin speed of 300 KM per hour, or 188 miles per hour. This is transforming the quality of traveling and Italian’s’ habits. Only 34 minutes are need to reach Florence from Bologna which, in turn, is connected to Milan in one hour. Reaching Rome downtown from Milan downtown takes less that 3 hours. Furthermore, Ferrovie is leading the green transition by investing US$ 2 billion to build plants for the self-production of energy from renewables. The first 20 plants are on the way and the objective is 2 GW of installed power by 2027.
Rizzani de Eccher is a construction group based in Udine, Friuli-Venezia- Giulia, Italy’s north-east region. The group won the US$ 120 million contract for a railway viaduct on the Mexico-Toluca line. Rizzani de Eccher, is an export led construction company, 80% of the group's turnover, US$ 620 million in 2022, comes from foreign markets.
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NEWEST Editorial, January 19 2023
