Italy's rail company to invest 24 bln euros in next 4 years
Ferrovie dello Stato says stock market listing likely ahead19 February, 19:51
The new 2014-2017 business plan was approved by the board of Italy's state-owned railway company at a directors' meeting.
Of the total investment, some 8.5 billion euros will be self-financed, the Rome-based company said. The company also announced plans to proceed with a stock market listing and share sale. It said that it intends to "consolidate on the positive performance of the past five years that was achieved despite the unfavourable economic outlook".
Sales are expected to grow by 3.5% a year to 9.5 billion euros by 2017, according to the new estimates contained in the plan.