BRITISH INVESTMENT IN ITALIAN STEEL WORKS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP82-00457R000200420002-5
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 1
• Document Creation Date: November 9, 2016
• Document Release Date: December 23, 1998
• Sequence Number: 2
• Publication Date: January 2, 1947
• Content Type: IR

Approved For Release/T:t- 2-00457R00020
ATR
R TE UGENCE REPORT
CO LS - Y Itai,
25X1A6a
DATE
FO?
JECT British Investment in Italia: Steel Works Mjff- 2 January 194`7
ORIGIN
25X1A6a
PAGES -
SUPPLEMENT
5O
25X1X6
1. It is reported that Cidonlo (sic) Construction firm which rkinu
-
: ac tures hydro-=electric and railroad 6,ui pment was contacted by 0
the Cogne Steel Works of Piedmont for the construction of two
hydro-electric plants above Aosta to enable Cogne. Steel to use
electric instead of coal power. The plants will draw water from
two artificial basins near the French border.
Neither firm had the money necessary but Cldo,.o is said to have
obtained fie {ncial aid from a London Ba 'which is now ready to
anvil st 2O1OOO,OOO,OOO lire at less than 4% iaatarest? It is re-
parted that P. preliminary contract was drawn up when an emissary
of the ban*, George Crockal and Director of Henry Boot Loans
Limited (sic) , recently visited the Aosta region.
j Cogn will allegedly repay only the interest,, The capital will
1.)o "liquidated in the form of special steels (forrterly made, only
in swgeden) which London wants exclusively.
It was apparently agreed that for the present the United States
and Switzerland, would not be informed of the deal.
o ? ny, wo `th hi.le local, initiative. Do ent No. I.-
.8..ngegnere aggioni of the Cidonlo firm is reported to have visited
Rrie:terecently where he became interested in _a large scale port
and 2ailway project sponsored by the Trieste etC+ raacolo" which is
backed by the antt!'s .Rite. aggio'ai is said to have promised
to report the project to his superiors and to secure funds from
the London groi p mentioned in paragraph 2. .ggioni allegedly
stated in addltjon that he could assure Br fish financial support
NO Chi in Class. ri
[] DECLA. TIED
Class. C~._. ^? : TS S
77
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