PRESS RELEASE

FINCOSIT IN CONSORTIUM WITH WEBUILD (LEADER OF THE CONSORTIUM), FINCANTIERI INFRASTRUCTURE MARITTIME WORKS AND SIDRA, IS AWARDED THE CONSTRUCTION OF THE NEW  GENOA BREAKWATER FOR A TOTAL VALUE BASED ON BID OF 928 MILLION EUROS

THE GREAT SHIPS OF WORLD TRADE FINALLY IN THE PORT OF LIGURE WITH THE DEEPEST BREAKWATER IN THE WORLD

• The New breakwater makes it possible to redevelop the Port of Genoa and make it accessible to new large container ships
• FINCOSIT is part of the consortium led by Webuild, as well as Fincantieri Infrastructure Maritime Works and Sidra;
• FINCOSIT, in its long history, with its men and boats has already carried out port works of impressive dimensions;

Genoa, October 12, 2022 – FINCOSIT in consortium with Webuild (leader of the consortium), Fincantieri Infrastructure  Marittime works and Sidra, will build the New Breakwater of the Port of Genoa, for a total  bid value of 928 million euros. FINCOSIT will participate in the consortium with a 25% share, bringing its over one hundred years of know-how in the construction of maritime works, even of particular complexity.

FINCOSIT, a historic Genoese company strongly linked to its territory of origin, during its work in Italy and abroad, in particular since the twenties of the last century, has continuously carried out numerous maritime works in the Genoese port, providing an important contribution to the infrastructural development of the port.

Commissioned by the Port System Authority of the Western Ligurian Sea, the work is part of the Extraordinary Program for the recovery of the Port of Genoa, will be co-financed by the Government with resources from the complementary Fund to the PNRR and will benefit from the Aid Decree (Legislative Decree 17 May 2022, no. 50).

The New Breakwater is a unique work in the world for its engineering complexity, for the off-shore construction conditions, for the size of the structures that will make up the barrier, and for the logistical organization of the procurement of materials that must not impact on normal port activity. The new  breakwater in the deeper sections will rest on depths of up to 50 meters, an important depth that FINCOSIT has already dealt with in previous port works.

The new infrastructure stands out for the innovative technologies used for its construction and for its sustainability, guaranteed by systems aimed at maximizing the circular economy, including the recovery, reuse, and transformation of aggregates.

With the construction of the new breakwater, the largest renovation of the Ligurian port area in recent years will be completed, with the expansion of the transit and maneuvering spaces for ships within the seaport, so as to enhance its capacity to welcome and transform it into an infrastructure capable of increasing the competitiveness of the Ligurian system and of Italy as a whole.

Its construction will allow safe access to the port for larger container ships, up to 400-450 meters long (double of those that can transit today), adhering to the specifications of the port of Genoa to the needs of the major shipping companies.

A project of great economic impact for the city, for its commercial port and for the whole of Italy, which will generate development and employment from the earliest stages of construction, representing an important opportunity for the new generations of the Ligurian capital, who are entering the world labor workforce.