(Alliance News) - Edil San Felice Spa announced Wednesday that it has been awarded a EUR5.3 million non-reimbursable regional contribution, obtained through the POR Campania FESR 2021-2027, PR Campania FESR 2021-2027 and POC Campania 2014-2020.

"The contribution," the note reads, "relates to a program of Regione Campania aimed at implementing European funds aimed at increasing the competitive capacity of enterprises, supporting the spread of innovation, as well as supporting the implementation on the regional territory of strategic, innovative and high-impact productive investment programs in employment.

On an application for the admission of a total investment project of EUR10.6 million related to the development of a new production unit adjacent to the company's current headquarters, the non-repayable grant awarded to Edil San Felice amounts to EUR5.3 million, in compliance with the provisions that provide for a maximum facilitation of 50 percent of the investment through regional funds.

The funds obtained will be used to finance the acquisition of the new industrial site in Nola, which was announced in December 2023 with the aim of increasing production capacity, expanding the activity of carpentry and road and airport signage, where there is a progressive increase in demand.

Work on the development of the new industrial project, which is currently underway, will be completed according to the current work schedule, in early 2025.

"Thanks to this investment," the note reads, "Edil San Felice will continue to offer development to its territory, creating jobs and increasing productivity and competitiveness, thus meeting the criteria for the allocation of funds.

Edil San Felice's stock trades in the green by 9.6 percent at EUR4.00 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.