A total investment of $600 million, which will involve the employment of 500 people and aims to increase current production volumes by 50% and sales by $1.7 billion in 5 years. These are the figures proposed by the Galileo Project, a global center of excellence for the development of turbines and compressors in the oil & gas industry, to be created in Tuscany. The project involves the concentration of all implementation phases, from design to industrialization, through a public-private partnership.
The signatories of the project
The project was signed by the Tuscany Region, the Presidency of the Council, the Minster of Economic Development, GE Oil & Gas and Nuovo Pignone. The protocol is the first agreement between all signatories and aims to test feasibility, including in terms of co-financing the project. Present at the negotiating table is Governor of the Tuscan Region Enrico Rossi, Minister of Economic Development Federica Guidi, Chairman and CEO of General Electric Jeff Immelt, Chairman and CEO of GE Italia Sandro De Poli, Chairman and CEO of GE Oil & Gas Lorenzo Simonelli and Chairman and CEO of Nuovo Pignone Massimo Messeri.
Proof of the skills of the local workforce
“GE has operated in Italy for about 100 years” said Jeff Immelt “and today’s operation confirms our strong commitment to investing and growing our business in the country. Today’s agreement is proof of the high skills of the local workforce and strengthens even further the research and development of innovative technologies in Italy in the oil & gas industry aimed at the entire world”.