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HomeEuropean UnionItaly's Webuild Says No Delay in EU-funded Public Works Projects

Italy’s Webuild Says No Delay in EU-funded Public Works Projects

Italian construction group Webuild (WBD.MI) said on Monday there are “no delays” in public works projects the company is carrying out in Italy with funding from the European Union’s post-COVID recovery funds.

Work is progressing speedily on already-opened construction sites, and recently-assigned projects are in the planning phase in line with all relevant deadlines, including a final delivery date set for 2026, the company said in a statement.

Webuild added it started preparatory activities, including geological surveys, before beginning work on the high-speed Salerno-Reggio Calabria rail link project, which was assigned to the group on May 12.

Italy, the biggest beneficiary of the EU’s 724 billion euro ($773.52 billion) post-pandemic recovery fund, is struggling to meet the goals laid down by Brussels to receive the money and is falling behind with implementation of its projects.

($1 = 0.9360 euros)

Source: Reuters



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