Copying and distributing are prohibited without permission of the publisher
Florence metro: Private gain
01 July 2005
Read more:
[PPP]
[project financing]
[BOT]
Limited syndication of the Eu229.5 million project debt for the 35-year Tram di Firenze (Florence metro) concession – the first urban transport public-private partnership (PPP) in Italy – has closed.
The Italian PPP market has become a reality in the past year with deals like SRC 1 and SRC 2 and the Mestre hospital financing. But Florence Metro appears to be a step back for Italian PPP, with the lenders taking on little, if any, meaningful risk transfer from the public sector.
Line 1 is already under construction between Santa Maria Novella station and Scandicci (7.5km) and is due to open in 2008. This line is being funded by the public sector and will cost Eu195 million.
The 7.5km Line 2 will link Peretola Airport, the cathedral, and Piazza della Liberto. The first stage of Line 3 will be 4.5km long and will run from Careggi Hospital to...
You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.
Already have an account?
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Free trial
Taking a free trial will give you access to the current issue for two weeks (excluding
some surveys and articles). Start your free trial today.
