Lingotto: agreement between the Chamber of Commerce and Compagnia San Paolo to revitalise the area
The Piedmont Region is also expected to become involved in the project, with a view to the transition of ownership of the complex from the private sector (GL Events) to the public sector
Work is now underway to shape the future of the Lingotto Exhibition Centre, with the Turin Chamber of Commerce and the Compagnia di San Paolo Foundation launching a programme to revitalise the site. The practical framework for this work is a Memorandum of Understanding, which has been signed to set out the key points of the initiative.
“We’re starting out as a pair, but we’re obviously open to the participation of other institutions and organisations in the city, as well as anyone else who might be interested in playing a part in this project,” says Massimiliano Cipolletta, president of the Turin Chamber of Commerce. The potential role of the Piedmont Region, which could come on board, remains a key focus.
Cipolletta speaks of “an investment that we consider highly strategic for boosting the region’s appeal and bringing benefits to all sectors of the economy, in line with the Chamber of Commerce’s mission”. The issue of revitalising the Lingotto exhibition centre periodically resurfaces on Piedmont’s political agenda, and the fact that it is managed by a private group (GL Events) has not facilitated dialogue with public stakeholders in recent years.
“We believe that cities’ competitiveness is built on a long-term vision and strong collaboration between institutions, businesses and communities. It is with this in mind that we have chosen to support a development project capable of generating economic and cultural value and enhancing the region’s appeal,” emphasised Marco Gilli, President of the Compagnia di San Paolo Foundation.
We therefore get to the heart of the matter, with a previously estimated cost of at least forty million for the purchase of the property and a similar amount for its revitalisation, including technological upgrades and associated restoration work. However, a new round of discussions will also be needed regarding the figures. The project faces a complex process, beginning with defining the scope of the operation, followed by negotiations with the owners, followed by the State Property Agency’s assessment of the agreement’s fairness, and finally the completion of the procedures required for the Chamber of Commerce to approve the investment.
