Italy to help contractors deal with material costs

By Mike Hayes28 July 2021

Government approves €100 million fund to compensate builders facing raw material price rises

Italy has agreed to implement measures to aid construction companies overcome the challenges of recent materials price rises.

The government says it has earmarked €100 million to use as compensation for contractors working on public projects.

The move comes as strong demand since the beginning of the year, along with issues with the global materials supply chain – largely caused by the coronavirus crisis – have combined to force prices up.

The budget committee of Italy’s lower house of parliament approved the scheme that will see firms eligible for compensation if prices for construction materials required for a project are shown to have risen by more than 8% since the beginning of the year.

The latest move follows the earmarking of €1 billion last month, to aid the nation’s construction industry as the impacts of Covid-19 continue to hamper recovery.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Construction Europe Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
More News from Construction Europe
Rental rate rises assist Sunbelt to pre-Covid revenue levels
Sunbelt Rentals’ first quarter revenue up 22% on 2020 and 12% on 2019, partly thanks to increasing rental rates
Construction starts on €1bn port in Murmansk
Lavna Commercial Sea Port project to include deep-water berth and railway infrastructure
Hexagon to host live tech summit
Live technology summit to showcase Hexagon’s new autonomous solutions
CONNECT WITH THE TEAM
Mike Hayes Editor, Construction Europe Tel: +44 (0)1892 786 231 E-mail: mike.hayes@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA