The Victor Emmanuel Company obtained the concession for the Calabria-Sicilian lines by transferring to the State, under an agreement of 9 July 1863, its
Turin -
Susa and
Turin -
Novara railway lines on payment of an annual income of Lire 2,226,000. The company, chaired by Carlo Laffitte, had been established with entirely French capital. When he obtained the concession for the construction and operation of the Calabrian-Sicilian railway lines, he replaced the Adami and Lemmi Company of the bankers Pietro Augusto Adami and Adriano Lemmi of Livorno. Adami and Lemmi had obtained the concession for the construction of the railways of southern and insular Italy by decree of the provisional government of
Garibaldi on 25 September 1860 but later met with opposition from the new Italian government. On 27 August 1863 he entrusted the construction of the new railway lines to Messrs
Parent, Schaken and Co. which, on 25 September, subcontracted them to a further limited partnership formed by Messrs Vitali, Picard, Charles and Co. which had been established in Paris on 24 August 1862 and whose parenting partners were Parent, Schaken and Co. and the general partners Vitali, Picard, Charles, and Oscar Stevens. The latter company further subcontracted the construction of the railway trunk lines Alcantara -
Catania and Catania -
Syracuse, and the works of the
Catania Central Station to the company Beltrami Gallone and Co. In 1866, unable to carry on the work for financial reasons, the Victor Emmanuel Company put the Company Vitali, Picard, Charles and Co. into liquidation. On 29 November 1866, the Victor Emmanuel Company made a new agreement with the General Enterprise for the construction of the Calabrian-Sicilian railway lines to continue the works of the
Messina - Syracuse and the
Palermo - Catania (40 km of the
Termini -
Lercara trunk line). At the same time the construction of the various sections of the Ionian line (from
Taranto to
Reggio Calabria via
Metaponto) was also carried out, which began in 1866 but ended in 1875 after the assignment to the
Società per le Strade Ferrate Meridionali and direct financing by the state. ==The economic collapse==