Claudio Andrea Gemme A.D. Fincantieri Infrastructure - Darsena Europa firma contratto di appalto

It's certainly a fantastic opportunity. Today was an important moment, the beginning of a story that for Livorno is obviously an excellence, but also an excellence for our group, Fincantieri, a company that has already proven itself in many activities around the world - from Miami to the Real Viano bridge. This is a tremendous opportunity for the city and for us to demonstrate our capabilities in a cutting-edge sector that will have fantastic developments in the near future. We handle the maritime works, so all the part explicitly related to maritime operations - the dredging and everything that will be the construction of the breakwater - will be part of Fincantieri's work. It will be a group effort with continuous handoffs, and it will be, let's say, a puzzle that we'll complete all together. Probably the most important and largest work at this site. 1.4 million cubic meters of material - yes, indeed those are incredible volumes, but the company has the capabilities and we will complete it on schedule. If I were to draw a parallel with what was being built, the Polcevera Viaduct in Genoa - in reality we're always working in emergency mode. When we took on the Genoa bridge, we worked in emergency. Speaking of Tuscany, I have to mention the Albiano bridge, another project we've completed in recent days, and we hope, as President Giani said, to have it finished by the end of April, two years after the disaster. That was a phase where we had to restore infrastructure that unfortunately suffered significant damage. But it's not new construction. No, this is a fantastic terminal for MSC Cruises - about 350 million in work, more or less analogous in volume to this one in Livorno. Those are new works, and that's the future. The emotion of rebuilding infrastructure that has had problems, but also imagining the future and building works like the one in Livorno, which truly bring value to our companies. And commissioned works like this one in Livorno, like the Genoa bridge was.

For commissioned works, indeed there are different approaches. The Genoa bridge was a very particular case, with very special commissioner powers. The powers that Commissioner Bucci had were extraordinary powers, something that isn't being replicated for other works. The commissioner's job is very demanding and difficult. It certainly helps to smooth out those rough edges that normally exist in large construction contracts, which have inevitable complications. The contract has various constraints, and the commissioner tries to untangle the situation and speed up the works. Fortunately, here in Livorno we have a deputy commissioner who has the strength to do this job.

Certainly, yes. There has been a cost increase - I must say a crazy one - in the recent period, coming directly from the conflict. For raw material supply, we have major problems because Ukraine had many steel mills that supplied materials to our company, and at this moment, as you've all seen on television, they no longer exist. So the supply of materials is becoming difficult, and the consequence is rising prices. Demand volumes are still there, but supply is becoming difficult and costs are skyrocketing. This is a major problem for supply chains and for costs.