February 25, 2009 / 11:23 AM / 10 years ago

STOCKS NEWS EUROPE-Italy's Impregilo up on infrastructure hopes

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11:20GMT 25Month2009-Italy’s Impregilo up on infrastructure hopes

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Italian builder Impregilo IPGI.MI shares rise 5.8 percent on optimism the government will relaunch infrastructure work after a minister says construction of the Messina Strait bridge linking Sicily to the mainland may start this year.

“A relaunch of the bridge and of infrastructure projects, which seems on the government’s agenda, can only benefit Impregilo’s order book,” a Milan-based analyst said.

Impregilo is head of a consortium that in 2006 won the 3.9 billion-euro bridge contract. Partners include Spain’s Sacyr SVO.MC and Japan’s Ishikawajima-Harima Heavy Industries (7013.T).

Infrastructure Minister Altero Matteoli told a radio programme “the great majority of work foreseen by the 16.6 billion-euro government plan can start in 2009, including the Messina Strait bridge”, news agency ANSA said on Wednesday.

Other construction companies, including Italcementi ITAI.MI and Astaldi (AST.MI), benefit from optimism over infrastructure projects, a trader says.

Reuters Messaging rm://danilo.masoni.thomsonreuters.com@reuters.net

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