Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 1,200,000,000
    Countries
    Sector(s)
    Italy : € 1,200,000,000
    Transport : € 1,200,000,000
    Signature date(s)
    18/06/2024 : € 400,000,000
    14/02/2024 : € 800,000,000

    Summary sheet

    Release date
    26 February 2024
    Status
    Reference
    Signed | 14/02/2024
    20220729
    Project name
    Promoter - financial intermediary
    IMPROVEMENT PROGRAMME ITALIAN HIGHWAY NETWORK
    AUTOSTRADE PER L'ITALIA SPA
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 1200 million
    EUR 2921 million
    Location
    Sector(s)
    Description
    Objectives

    The investment programme concerns the modernisation and upgrade of the highway network operated and managed by ASPI, covering a total length of 2,855 km. In particular, it includes the following works: - Seismic upgrading and structural reinforcement of 40 bridges and viaducts (in line with the EU and national standards post Morandi bridge collapse), including the demolition/reconstruction, reinforcement of deck and substructure as well as renewal of crash barriers on bridges and viaducts in line with the EU Standard EN 1317; - Replacement of crash safety and noise barriers, including more than 66,700 linear metres of safety barriers and the installation of more than 85,000 linear metres of new noise barriers; - Alignment of 87 existing tunnel tubes in terms of structural reinforcement (IRS) and renewal interventions (TRS); - Smart and Intelligent Roads; - Modernisation of ASPI's installation, including works to reduce CO2 emissions (energy-efficiency renovation of buildings, replacement of lighting with LED) and upgrade of Intelligent Transport Systems (ITS) to optimise traffic flow and safety; - Modernisation of ASPI's IT infrastructure, including the installation of 871 linear kilometres of fiber optic; - Installation of 98 e-vehicle charging stations across ASPI's highway network including at least 2 ultra-fast DC charging units of 300 kW.

    The main objectives are to safeguard and upgrade the assets, to improve road safety, to reduce pollution, notably noise as well as develop ITS services and electric recharging stations. The project is not expected to lead to any traffic capacity increase. Moreover, it is expected that no material interventions will occur beyond the existing right of way.

    Additionality and Impact

    The proposed operation aims at improving over 40% of the Italian motorway network, a key strategic infrastructure which is almost entirely on the core and comprehensive TEN-T. This network, operated by ASPI, requires to be modernised to meet the latest TEN-T regulations and Italian standards in terms of infrastructure safeguard and road safety on its entire length.

    The Project focuses on the following main streams: (i) regulatory adaptation and rehabilitation of viaducts/bridges and tunnels, (ii) replacement of safety barriers, (iii) installation of anti-noise barriers, (iv) upgrade of optic fibre, installation of IT systems for security and network monitoring, lighting and security signage, and (v) installation of e-vehicle charging points.

    The Project is expected to lead to a significant set of benefits, including maintenance savings, lower accident rates, abatement of noise pollution and CO2 emissions, and time saving for road users due to smart transport innovation. The project is not aimed at increasing capacity.

    The Project is aligned with the EIB's Climate Bank Roadmap and with the provisions of the EIB's Transport Lending Policy on interurban roads.

    EIB's technical contribution has been limited to better assess and report the sustainability elements of the project. By doing so, the Bank services have contributed to raise the awareness of the promoter to a more holistic approach to the planning and programming of road rehabilitation, going beyond the economic impact of the project by taking into account its climate, environmental and social aspects.

    The EIB financing will stabilize ASPI's funding sources with a longer tenor than otherwise available in the market, with a final maturity date aligned to the concession expiry date in 2038. Moreover, the EIB support to ASPI is expected to mobilize additional financing which will further underpin ASPI's efforts in their capex plan implementation with a strong signal to other lenders and the market regarding the solidity and viability of ASPI's business model, also in light of the upcoming negotiations with the Grantor for the review of the 2025-2029 regulatory period.

    Environmental aspects
    Procurement

    None of the project's components are included in the categories of works listed Annexes II, III and IV, as set out in Article 6(6) of the Italian Consolidated Environmental Law (Testo Unico Ambiente - TUA) D.Lgs 152/06 which transposes Environmental Impact Assessment (EIA) Directive 2011/92/EU amended by 2014/52/EU and therefore are not subject to an EIA procedure. Some of the project components under the category of works "rehabilitation of bridges and viaducts" and "installation of noise barriers" were subject to appropriate assessments (Valutazione di Incidenza VincA) in accordance with article 6.3 of the Habitats directive 92/43/EEC and with the Italian national guidelines on appropriate assessment (2019) . The project contributes to climate action and environmental sustainability (CA&ES) objectives, in particular to climate adaptation, pollution prevention and control.

    Today ASPI is a private listed company, belonging to the category of concessionaires which are not contracting authorities. Part of the investments included in the project has been/shall be directly awarded to ASPI's subsidiary companies without public procurement, which does not formally infringe EU legislation within limits. The new Public Contracts Code of Italy (art. 186.2) imposes the obligation for the holders of directly awarded motorway concessions to entrust a quota between 50% and 60% (depending on different criteria included in the Code) of the works, services and supply contracts via public procurement processes. The promoter has therefore been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.

    Milestone
    Under appraisal
    Approved
    Signed
    13 December 2023
    14 February 2024

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - IMPROVEMENT PROGRAMME ITALIAN HIGHWAY NETWORK
    Publication Date
    26 Feb 2024
    Document language
    Main Topic
    Lending
    Document Number
    178268931
    Document Focus
    Environmental Information
    Project Number
    20220729
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Impact Assessment (ESIA) - IMPROVEMENT PROGRAMME ITALIAN HIGHWAY NETWORK - RELAZIONE GENERALE - Viadotto Carafone
    Publication Date
    28 Mar 2024
    Document language
    Main Topic
    Lending
    Document Number
    181946763
    Document Focus
    Environmental Information
    Project Number
    20220729
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Impact Assessment (ESIA) - IMPROVEMENT PROGRAMME ITALIAN HIGHWAY NETWORK - RELAZIONE GENERALE - Ponte Enza
    Publication Date
    28 Mar 2024
    Document language
    Main Topic
    Lending
    Document Number
    181929769
    Document Focus
    Environmental Information
    Project Number
    20220729
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

    Related publications