Ex Whirlpool Napoli, Development Agreement signed: now we await the resolution for Invitalia's entry

Naples – A new step forward in the reindustrialization of the former Whirlpool site on Via Argine: a development agreement has been signed between Italian Green Factory, a Tea Tek group company, and the Ministry of Enterprise and Made in Italy (MIMIT).

This is the last formal step before the approval of the Development Contract by Invitalia, which should enter the share capital of the new production reality.

Felice Granisso, CEO of Tea Tek and Italian Green Factory, confirmed this: «MIMIT and the Invitalia Development Contract structure have done an extraordinary job, respecting the announced deadlines.

I thank Minister Adolfo Urso for the constant attention he has shown and I also applaud the Ministry's crisis unit for having convened the technical table on July 2, in which the status of the investment will be assessed".

Granisso also expressed his hope that the resolution of the Safeguard Fund for the entry of Invitalia into the shareholding structure of Italian Green Factory will be approved during the meeting: a decisive step to definitively start the operational phase.

The agreement signed today unlocks public funds earmarked for the redevelopment of the Naples industrial site, closed in 2020 after being sold by Whirlpool . The total investment is expected to be €92 million, €29 million of which will be in the form of non-repayable grants and a portion through subsidized financing.

The industrial project is proceeding according to the established roadmap. In fact, starting next month, the first production activities will start in the temporary plant in Acerra, with the involvement of the first 25 former Whirlpool employees, hired by IGF and currently undergoing training from November 2023.

"In July we will enter the operational phase - concludes Granisso - and we will restore work and prospects to a territory that has been waiting for concrete answers for too long".