Frejus Tunnel Improvements

Promoter – Financial Intermediary

The promoter is a toll motorway and tunnel builder and operator in Italy.

Location

• Italy

Description

The project concerns the construction of the Frejus safety tunnel at the border between Italy (Bardonecchia) and France (Modane). The rationale of the project resides in the need to enhance and upgrade the safety standards of the Frejus tunnel to the European Directive EU 2004/54 which specifies the minimum safety requirements for TEN-T road tunnels. The project is located on a cross-border section of the TEN road network between Italy and France.

Objectives

The project will improve traffic conditions on an international road link from the Piedmont region / Turin to the Savoie region / Lyon. The main benefits are safety improvements on the tunnel. The tunnel where the safety investments are considered for financing is part of the Trans-European Transport Network (TEN-T). It is therefore eligible under the TEN-T criterion.

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

Up to EUR 120 million.

Total cost (Approximate amount)

EUR 480 million.

Environmental aspects

The project falls under Annex II of EIA Directive 85/337/EEC, as amended by Directives 97/11/EC and 2003/35/EC. The project has been screened in and an EIA has been carried out and approved by the competent authorities both in France and Italy. During appraisal, the Bank will review the EIA process implemented to date to confirm that it complies with the applicable EU Directives.

Procurement

During appraisal, the Bank will review the procurement procedures and require that they are compliant with the applicable EU Directive 2004/18/EC.

Status

Signed - 27/11/2013