U.S. state of Virginia to spend $18.6 billion on infrastructure. CFO: extraordiary news for the group

Cheshire, June 26, 2017 - Virginia has announced plans to spend during the next six years a total of $18.6 billion on infrastructure, including roads, bridges and railways across the U.S. state where Salini Impregilo's U.S. subsidiary Lane Construction has a significant presence.

'The announcement is extraordinary news for the Group,' said Massimo Ferrari, General Manager Corporate & Finance Group CFO. 'It confirms the importance not only of the role of the federal government in infrastructure investment but also that of state governments. Lane has a historical presence in Virginia, which it increased with the acquisition of Asphalt Road and Material in Virginia Beach in 2016.'

The state's Commonwealth Transportation Board approved on June 20 the Six-Year Improvement Program for the Virginia Department of Transportation and the Department of Rail and Public Transportation. The program will begin on July 1, 2017.

The program provides funding to thousands of projects to improve the state's infrastructure. Of the total approved by the Board, $15.2 billion is earmarked for highway construction and the remaining $3.4 billion to rail and public transportation.

Lane Construction has a strong presence in the state. Its projects have included work on the 495 Express Lanes along the Capital Beltway, a bus rapid transit line in Alexandria and the excavation and paving at Dulles International Airport. Lane has a division, Virginia Paving Co, an asphalt pavement producer and paving contractor, that also has a significant presence in the state, with works such as the paving of the Chesapeake Bay Bridge Tunnel and the Naval Air Station Oceana in Virginia Beach.