January 31, 2018 / 4:26 PM / 9 months ago

Enel to double Italy investments to 12 bln euros 2017-2020 - CEO

MILAN (Reuters) - Italy’s biggest utility Enel will double its investments in Italy in the period 2017-2020 to 12 billion euros ($15 billion), the group’s CEO Francesco Starace said on Wednesday.

FILE PHOTO - Francesco Starace, CEO and general manager of Enel Group, attends during a news conference to present their partnership with FIA Formula-E Championships at the MAXXI National Museum in Rome, Italy, May 17, 2016 REUTERS/Alessandro Bianchi

In a previous business plan, the utility had earmarked 6 billion euros.

“The potential in Italy is huge,” Starace said during a Reuters Breakingviews event in Milan.

(This version of the story was officially corrected after the company said the investment would be made in 2017-2020 not over two years as originally stated)

Reporting by Stephen Jewkes, editing by Agnieszka Flak

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