Establishment of strategic business partnership with Italian Astaldi S.p.A.
In May 2018, IHI Corporation (IHI) and IHI Infrastructure Systems Co., Ltd., (IIS) signed the Global Partnership Contract with Italian Astaldi S.p.A. (ASTALDI). Simultaneously, IHI has entered into the Investment Agreement with FINAST S.r.l. (FINAST) which is majority shareholder of ASTALDI. IHI group establish relationship with ASTALDI as strategic partner in order to assure the parties’ business expansion and benefits.
Investment Agreement will become effective subject to satisfaction of conditions precedent agreed by parties.
ASTALDI is the second largest contractor in Italy with more than EUR 3 billion revenues and well known its wide experience of projects in the world and technological capabilities in Infrastructure especially roads, bridges, tunnels, and railways field.
Both parties started its relationship from Osman Gazi Bridge Construction Project (ASTALDI is one of the member of NOMAYG JV which was IHI’s clients) a part of Gebze – Izmir – Orhangazi Motorway BOT project in Turkey. Through its successfully completion, IHI proved its excellent engineering capabilities, and has been building up trustful relations with ASTALDI.
Thanks to our strong relationship, ASTALDI-IHI JV was awarded the Braila Bridge Project in Romania in January 2018.
IHI and IIS, through the business partnership, aim at leveraging on each company’s complementary business strengths and skills such as IHI group’s engineering capabilities of bridge construction and ASTALDI’s rich experience of BOT/PPP projects, capabilities of project operations and know-hows of project controls etc, both in terms of geographical positioning and technological know-how, to create industrial and commercial synergies which will enhance ASTALDI and IHI competitive positioning in the global infrastructure market.