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“Ansaldo Energia risks losing 150 million in Iran over three years” / INTERVIEW

Zampini: “It’s because of the international sanctions that penalize our companies”. the company signed a contract in China.

It’s not US tariffs that are causing concern, but international sanctions. “In the Iranian market, Ansaldo Energia could lose about 150 million in revenue over the next three years,” says Giuseppe Zampini, the CEO of the giant that makes turbines and president of Confindustria Liguria.

What are the dangers of breaking off commercial ties to Iran?

“Iran is a country with a population of 80 million on a territory of 1.5 million square kilometres. It has significant oil and gas reserves. Its geographical location is important, also because the future Silk Road passes through it. Italy was always among the top countries in the world for exports to Iran, but since then numbers have been a bit reduced. The Iranian population is 35% young, and the country has good universities and good technological knowledge. What Ansaldo produces is not a product that is sanctioned - it is the banking system that prevents this sale.”

What consequences are expected from the introduction of international tariffs and sanctions?

“Certainly an alteration in the market. There are situations where these measures bring benefits to some states and disadvantages to others. Surely these are manoeuvres which every large company exposed to the international markets has to deal with.”

Still on the subject of international markets, are there any other variables for domestic enterprises operating abroad?

“The dollar-euro exchange rate is certainly a factor that is constantly monitored, and depending on the time, can play to our advantage or not.”

What were the most important developments since the recent mission to China, in which Ansaldo and Confindustria Genoa also took part?

“At the first China International Import Expo in Shanghai, we signed a contract worth about €60 million to supply the first class H GT36 gas turbine for the Minhang power plant in China.

What will the consequences of this new order be?

“The contract represents an important step for the introduction of Ansaldo’s class H gas turbines and further strengthens the long-term strategic collaboration between Shanghai Electric and Ansaldo Energia. The end client for the Minhang 800 MW power plant project is Shanghai Electric Power, the largest utility operating in the energy field in the Shanghai area, which is controlled by Spic (State Power Investment Company), one of the five largest power utilities in China. Ansaldo Energia’s presence in China is therefore confirmed, with a set of contracts signed for thirty Gas Turbines and a corresponding value of production in Italy of more than €400 million.”.

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