(Alliance News) - Reway Group Spa on Thursday announced that its subsidiary company Soteco Srl, active in the field of tunnel lining and renovation and sound barrier installations, has been awarded a contract by Steelconcrete Consorzio Stabile for modernization works on the barriers of some sections under concession to Autostrade per l'Italia, under the responsibility of the 1st Section Management of Genoa and the 2nd Section Management of Milan.

The works, worth a total of EUR35 million, are part of the broader framework agreement signed by Steelconcrete with Autostrade per l'Italia and will be carried out entirely by Soteco. In detail, Reway Group's subsidiary will be responsible for the replacement of safety barriers and integrated safety sound barriers along the sections.

The company in a note explained that the interventions, lasting up to three years, will be started from the signing of the first application contract, which is likely to take place in the first half of 2024.

The company recalled that the group's backlog rose to EUR786 million before the portion already invoiced in the second half of the year.

Reway Group trades down 2.0 percent at EUR4.96 per share.

By Claudia Cavaliere, Alliance News reporter

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