SOCIETÀ INIZIATIVE AUTOSTRADALI E SERVIZI S.P.A. PRESS RELEASE
THE CONCESSION AGREEMENT FOR THE PIACENZA-CREMONA-BRESCIA MOTORWAY WAS SIGNED WITH THE MINISTRY OF INFRASTRUCTURE AND TRANSPORT.
Turin, May 31, 2017. Sias announces that today the company Autovia Padana (formed by the subsidiary Satap with a 70% share and the affiliate Itinera with a 30% share) and the Ministry of Infrastructure and Transport (MIT) have entered into the Concession Agreement for A21 Piacenza-Cremona-Brescia motorway.
Within the scope of the tender procedure promoted by the MIT, the temporary joint venture formed by Satap and Itinera was named in May 2015 as the contractor for the motorway concession.
The effectiveness of the Concession signed today is subject to the issue of the relevant Italian Interministerial Decree of approval (to be released by the Ministry of Infrastructure and Transport and the Ministry of Economy and Finance) and the subsequent registration by the Court of Auditors, expected to take place within the year.
The new Concession will last 25 years from its effectiveness.
The A21 Piacenza-Cremona-Brescia motorway runs for 88.6 kilometres, crossing two regions - Emilia Romagna and Lombardy - and connecting the A21 Torino-Piacenza motorway with the A4 motorway, with a road traffic in 2016 of about 27 million vehicles.
The operation strengthens the strategic role of Sias as the main motorway operator in northwestern Italy, one of the richest areas in the country, and places the Group among the country's largest private investors in the field of transport infrastructure.
SIAS - Società Iniziative Autostradali e Servizi S.p.A. Via Bonzanigo , 22 - 10144 Turin (Italy)
Telephone +39 011.43.92.102 - Fax +39 011.47.31.691
info@grupposias.it Website: www.grupposias.it PEC certified e-mail: sias@legalmail.it
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Media Relations
Giovanni Frante
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SIAS - Società Iniziative Autostradali e Servizi S.p.A. published this content on 31 May 2017 and is solely responsible for the information contained herein.
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