Webuild S.p.A. (WBD.MI), an Italian construction company, on Tuesday, announced that it has secured a new contract as part of a consortium to develop the high-speed/high-capacity Salerno-Reggio Calabria railway line, a key project to enhance southern Italy's infrastructure.
The contract, worth 1.6 billion euros with the company holding a 60% share, covers the Paola-Cosenza doubling section, which stretches about 22.2 km across Calabria, largely underground.
The project led by the company with partners Ghella, Pizzarotti, and SELI, will use four TBMs to build the new 15-km Santomarco Tunnel and related works, employing up to 1,500 people.
The project will enhance rail capacity in Calabria with bridges, viaducts, a new station, and improved links between the Tyrrhenian coast, Cosenza, and the TEN-T Scandinavian-Mediterranean corridor.
The project is expected to stimulate economic growth and tourism in southern Italy while cutting travel time between Rome and Reggio Calabria from five hours to three hours and 40 minutes once complete.
Webuild is currently trading 2.27% higher at 4.1480 euros on the Milan Stock Exchange.
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