Astaldi: the Italian construction Group goes mainstream in Canada

Astaldi, the construction Group founded by mr Sante Astaldi  continues to rake in orders, as Muskrat Falls hydroelectric plant in Canada and he Moscow-St. Petersburg highway.

Read full story on ItalyPR.

The construction group Astaldi was born in the 1920s, when Sante Astaldi founded the individual company of the same name. It operated primarily in the contracts of large civil projects in Italy and in the overseas colonies. In 1929, it transformed into Impresa Astaldi Costruzioni e Lavori Pubblici S.p.A., which realized large-scale projects like the Rome-Naples and Bologna-Florence railways, and the Addis Abeba-Great Lakes road in Ethiopia. 

Alstom - Metro 5 in Milan

The new Metro 5 in Milan

The Roman group then went on to become one of the chief contractors in Italy and the world. It has been listed on the stock exchange since June 2002, but it is still firmly in the hands of the founder’s family, through a 52.528% share held by Fin.Ast S.R.L. In recent years, it has completed important commissions like the new exhibition center in Milan and the Rome-Naples high-speed railway line, and it is involved in the construction of the Line 5 of the Milan subway system, the Metro C in Rome, and the Brescia subway system.

In the construction world, Astaldi had often been considered a promising match for Impregilo, the general contractor headquartered in Milan, which instead merged with another important name in Italian construction, the Roman Salini. The idea of a merger with Astaldi always came to nothing, in part because of uncertainty regarding the family’s role (as they would not have appreciated taking a backseat in the operative management of the society that resulted from the merger), in part because of the difficulties in avoiding the obligatory public offer of acquisition – the old vice of Italian familial capitalism, rich in cozy relationships and crossed holdings, but with tight purse strings with regard to the market.   

astaldi logo

Astaldi logo

In the meantime, Astaldi continues to rake in orders. It recently signed a contract for the realization of some civil projects related to the Muskrat Falls hydroelectric plant in Canada, valued at one billion Canadian dollars. Astaldi is also among the competitors for the construction of the Moscow-St. Petersburg highway, valued at two billion, which needs to be completed for the 2018 Fifa World Cup.

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