United Arab Emirates

Abu Dhabi Hydraulic Tunnel – Lots 2 and 3

Salini Impregilo is currently completing construction on two lots of the STEP (Strategic Tunnel Enhancement Program), which involves the construction of a tunnel that will serve to collect waste water from the island and the mainland of Abu Dhabi by gravity and convey it to the treatment facility located in Al Wathba. The Group is building 25 km of the tunnel, which will ultimately measure 40 km. The total value of the contracts comes to approximately $445 million.

Lot 3 was completed during 2013, while lot 2 was completed in the first half of 2014.

Dubai R881

After a slow down period of about two years caused by the economic recession that kept the country from being able to maintain regular progress payments, the "R881 Comprehensive Improvements of the Parallel Roads" project for construction of a highway section (lots 2C and 3A) in the city of Dubai resumed full production activity in 2012, thanks in part to the Client’s recognition of certain claims for lot 2C (AED 40 million) and additional advance disbursements for lot 3 (AED 20 million).

The project mainly includes building 30 bridges, 2 underpasses, resurfacing more than 400,000 square meters of road and providing a large number of subservices.

All structures and roads were opened to traffic in December 2013. "Taking Over Certificates" were issued for lot 3A and lot 2C on April 15, 2014 and December 7, 2014, respectively.

Lastly, it should be noted that an additional agreement for AED 20 million was reached with the client as compensation for additional costs incurred in lot 3A during the "slow down" period caused by the economic downturn of the Emirates mentioned earlier.

At December 31, 2014 the AED 20 million had been received in full.

Arab Emirates – Abu Dhabi Highway Lot B – Dubai

On December 20, 2013, Salini Impregilo was awarded lot B of the new Abu Dhabi-Dubai highway in the United Arab Emirates. The work was commissioned by the Abu Dhabi General Services (the so-called "Musanada") and is one of the largest infrastructure projects in the country as part of the innovative "Plan Abu Dhabi 2030". The contract awarded to a consortium consisting of Salini Impregilo S.p.A. and the local builder Tristar Engineering & Construction (TE&C) involves the construction of a total of 28 km of the Abu Dhabi-Dubai highway, to be completed in 27 months. Work on lot B of the project is valued at approximately 840 million United Arab Emirates Dirhams (AED), which, at the current exchange rate, is about €168 million.