Bloomberg News

Italy Frees Up $6.4 Billion for Public-Works Projects

December 06, 2011

Dec. 6 (Bloomberg) -- The Italian government infrastructure committee, known as CIPE, today cleared 4.8 billion euros ($6.4 billion) to fund public-works projects aimed at revamping the country’s economic growth.

The funds will be used to upgrade a high-speed rail line in Northern Italy and for projects including a motorway in the South and the Mose, the system of adjustable dikes to protect Venice from high tides that flood the city, the committee said in an statement published on its website.

--Editor: Alan Crawford

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net

To contact the editors responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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