Azerbaijan boosts global portfolio with over 34.5 million euros investment in Italian rail operator

The State Oil Fund of Azerbaijan (SOFAZ) has invested 34.5 million euros ($36.1 million) in the Italian high-speed rail operator Italo - Nuovo Trasporto Viaggiatori S.p.A.

The investment was made through a fund managed by Global Infrastructure Partners (GIP), a part of the US company BlackRock, Caliber.Az reports per local media.

Italo is the first private operator of high-speed railways in Italy, connecting 54 towns. In 2024, MSC acquired a 50 per cent stake in Italo, while the remaining shares are owned by GIP and its partners, including SOFAZ. This investment is strategically important for SOFAZ, as it seeks to diversify its portfolio by investing in sustainable infrastructure assets as a long-term investor.

Italo is Italy’s first private high speed rail operator, and the first operator in the world to use Alstom’s new AGV train, holder of the world speed record for wheeled rail vehicles. Italo’s current train fleet is made up of 25 latest-generation AGV 575 trains that can run at very high speed, up to 360 km/h and 26 new Italo EVO. 

In May 2023 Italo acquired Itabus, creating a multimodal group capable of offering a truly integrated mobility service with 100 latest-generation MAN buses. Italo offers journeys that are rich in entertainment experiences and that provide tailored services, with maximum comfort, designed for the needs of all kinds of travellers. 

By Naila Huseynova