(Alliance News) - Intesa Sanpaolo Spa announced Thursday that it has finalized a EUR8.0 million loan with SACE guarantee to Maniva Spa for investment in sustainability projects.

Since its production start-up in January 1998, Maniva is now one of eighty Italian companies involved in mineral water production. Specifically, Maniva bottles and markets water from springs that flow from Mount Maniva in the municipality of Bagolino in the province of Brescia and the Casentino forests in Chiusi della Verna in the province of Arezzo.

"The loan granted by Intesa Sanpaolo," reads the bank's statement, "contributes significantly to consolidate the 2023/2025 investment plan, which totals more than EUR12 million. In particular, the purpose is related to improving the environmental sustainability of the product by investing in research and bottling plants using 100% recyclable packaging. Production processes will be improved by optimizing environmental performance through also saving energy, raw materials and the use of energy from renewable or self-produced sources."

Intesa Sanpaolo's stock trades in the green by 0.5 percent at EUR3.32 per share.

By Chiara Bruschi, Alliance News reporter

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