Word: progetti
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Dates: during 1967-1967
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Heading up 7,800 worthwhile employees, Progetti's General Manager Franco Salimbeni, 39, shuttles constantly between far-flung sites to keep things moving. "That way I know what the problems are before they are reported to me," he explains...
...Ente Nazionale Idrocarburi), elbowed its way into the international petroleum business by adventurous gambles. Buying huge shipments of Soviet oil, it also offered cut-rate competition to Western oil majors for drilling and refining rights in Africa, Asia. Just over a year ago, ENI created a subsidiary, Snam Progetti,* to build refineries, pipelines and petrochemical plants-even for rivals. Quickly catching on, Progetti is now busy with $360 million of construction projects on four continents. Last week the yearling firm opened a U.S. branch in Manhattan, partly at the urging of such American oil firms as Esso, Phillips and Amoco...
Milan-based, Progetti capitalizes on speed, sharp figuring and salesmanship. The company snatched a deal for a $51 million, 500-mi. Syrian pipeline away from a British firm by offering to install it in half the time at lower cost. Beating out eleven international companies for a $32 million Madras, India, refinery contract, Progetti agreed to complete the 2½ million-ton plant in two years. The company has also pushed into the European market with a $4,000,000 pipeline in France, a $2,500,000 undersea line in Spain and a $3,000,000 factory job in West...
Having the Italian government as chief stockholder of parent ENI also helps. Two state agencies, Mediobanca and Istituto Mobiliare Italiano last week agreed to lend Zambia $30 million to pay Progetti for an oil pipeline from landlocked Zambia to Dar es Salam on the Tanzania coast...
...named because it grew out of the engineering projects (in Italian, progetti) division of the former Societa Nazionale Meta-nodotti, another ENI subsidiary...