Financing is now in place for the planned Naples-Salerno highway project in Italy. A bond deal worth €518 million has been issued by the SIS consortium, which is handling the project.
SIS has completed the financing for this infrastructure project with the issuance of bonds and a bank loan for €90 million. According to SIS, the highway should deliver a revenue portfolio of €2.7 billion over the 25-year concession period and requires an investment of €390 million.
The A3 route connects Naples with Pompei and Salerno and the highway improvement work is being handled under the PPP model. SIS comprises Sacyr holding a 49% stake and Fininc with a majority 51% stake.
This project includes carrying out construction works for €390 million to modernise and improve the safety of several sections of the highway and to carry out the operation and maintenance of the road.
The highway carried an average of 90,000 vehicles/day and runs for 52km between Naples and Salerno. The A3 is a key route for southern Italy, as it connects the Vesuvius coast with the ports of Naples and Salerno to the rest of the region’s highways.
Meanwhile, the Bologna Bypass project is now going ahead, following its approval by the Ministry of Infrastructure and Sustainable Mobility (Mims). The work involves widening work for the A14/Tangenziale highway, including a 13km extension. The project is set to cost €1.5 billion and will be handled by Autostrade per l’Italia (Aspi). The work also includes the installation of solar panels and the construction of new facilities for cyclists.
In addition, the concession for the A11, A12 and A10 highways has now been agreed. The 11 ½ year concession package was signed between Italian motorway operator ASTM and the Ministry of Infrastructures and Sustainable Mobility (Mims). ASTM will ensure toll charges remain static for the period and will invest €940 million in the route as part of the agreement.
