(Alliance News) - As disclosed Monday morning by Banco BPM Spa, the bank will be a participant in an 'operation "of Advanced Payment Bond issues for a total of EUR36 million carried out by Banco BPM with UniCredit Spa and SACE guarantee for strategic works in favor of maritime infrastructure."

The operation is aimed at the expansion and redevelopment of the ports of Naples and Salerno, part of a larger project to be carried out by R.C.M. Costruzioni Srl, a Salerno-based company of the Rainone Group.

The interventions are related to the framework agreement for entrusting the execution of works for maritime infrastructure, and the company will be sole executor, appointed by the Consorzio Stabile Grandi Lavori, of which the Salerno-based company is a relative majority shareholder.

To obtain the contractual advance needed to activate and speed up the execution of the works, R.C.M. Costruzioni was able to count on Advance Payment Bonds worth a total of EUR36 million issued by Banco BPM, as issuing fronter, and UniCredit in favor of the Port Authority of Sistema del Mar Tirreno Centrale.

SACE intervened with a guarantee as part of the operation of the Strategic Relief under the profile of the activation of production and employment processes on projects related to the PNRR.

In detail, the contract, worth a total of about EUR220 million, provides for the execution of works to extend and reinforce the Duca d'Aosta Dam and works to complete the eastern dock in the port of Naples, and the consolidation and functional adaptation of the Western Pier, January 3 Pier and Manfredi Pier in the port of Salerno.

Banco BPM on Monday trades in the red 0.8 percent to EUR6.43 per share, while UniCredit advances 0.1 percent to EUR36.24 per share.

By Maurizio Carta, Alliance News reporter

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