Trieste, Italy-based shipbuilding company Fincantieri can count on an initial funding of €120 million for the reconstruction and the expansion of its facilities in Genoa, according to an article in Italian financial newspaper Il Sole 24 Ore. This sum, according to the Italian Minister of Economic Development Paolo Romani, "may exceed €200 million in the future." The investment will create a new operating site of 117,000 m2 by filling a body of water of 71,000 m2 between Sestri Ponente and Multedo at the port of Genoa. Besides, new structures and facilities will be set up for mechanical activities.
Minister Romani commented, "The project will allow Fincantieri to continue and strengthen its activities, giving logistical advantages to the port of Genoa." He added that new market shares would be gained by investing in quality and advanced technology.