Italy approves €28bn infrastructure investment hike

Italy’s Inter-ministerial Committee for Economic Programme (Cipe) approved €28bn in additional funding for infrastructure investment by Italian State Railways (FS).

FS says the announcement gives the green light to update the Programme Contracts between the Ministry of Infrastructure and Transport and FS’ two infrastructure subsidiaries: national infrastructure manager Italian Rail Network (RFI) and highways organisation ANAS.

As a result, RFI’s 2018-2019 update of its 2017-2021 investment programme has been approved with an additional €15.4bn for rail investment, while ANAS has been allocated an additional €12.5bn.

FS says the approval of this additional spending assures its 2019-2023 Industrial Plan to invest €28bn in the rail network and €14bn in roads.