(Alliance News) - Edil San Felice Spa announced Wednesday that it has been awarded a contract from Autostrade per l'Italia Spa, worth a total of EUR4.1 million, for routine and recurring maintenance in the DT3 - Bologna Direction Section freeway section.

The agreement, with a two-year duration and with an option to renew for a maximum of 24 months, was signed following the participation and awarding of a European open tender promoted by Autostrade per l'Italia. Work is scheduled to begin in the first four months of this year.

"This award represents for Edil San Felice a further step forward in the expansion of ordinary and recurring maintenance activities outside the Campania region, in line with the strategic lines of growth promoted during the IPO," the company said.

The new operating headquarters in Bologna has enabled the company to expand its capillarity in the national territory and position itself as a reference interlocutor for the main highway clients in the field of ordinary and extraordinary maintenance also in the center-north of the country.

"This order not only strengthens our position in the ordinary maintenance sector in Italy but also confirms that our growth path as a leading operator on a national scale is continuing in the right direction," commented Lorenzo Di Palma, CEO of Edil San Felice.

"The investment made on the opening of the new operating office in Bologna has allowed us to increase our capillarity and consequently our competitiveness outside Campania, thus also guaranteeing us growth in terms of marginality."

Edil San Felice's stock is up 1.5 percent at EUR2.79 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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