Finmeccanica SpA (FNC) is in talks with the U.S. Department of Transportation over contracts central to a $150 billion five-year upgrade of the country’s railroads, La Stampa reported, without saying where it got the information.
Italy’s No. 1 defense company aims to be prime-contractor on the projects, part of President Barack Obama’s Transportation Investment Generating Economic Recovery or TIGER program, via its Ansaldo STS SpA (STS), AnsaldoBreda SpA and Selex Sistemi Integrati SpA divisions, the newspaper said, adding that work will be worth $58 billion in the first year alone.
Italian Prime Minister Mario Monti spoke with Obama by telephone about possible cooperation, according to La Stampa, which also cited letters between Monti’s office and Florida Representative Corrine Brown, the ranking member on the House Subcommittee on Railroads, Pipelines and Hazardous Materials.
Rome-based Finmeccanica declined to comment when contacted by Bloomberg News today.
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