di Antonio Fabrizio Southern Italy’s road concession to sign soon It Deal Profile Ragusa to Catania Motorway
The signing of the concession contract between the Italian Transport Ministry and the winning consortium of southern Italy’s Ragusa-Catania motorway could take place between November an’d December, it has emerged.
“The signing of the agreement is expected in the coming weeks,” Mimmo Costanzo, the co-founder of developer Tecnis, told InfraNews. “Concrete negotiations with lenders will begin right afterwards,” he added. Tecnis is part of the consortium which won the tender for the project last year. The consortium currently includes Silec, Maltauro, EGIS Projects
as well as Tecnis. A club of Italian lenders have been approached for a project finance package of circa EUR 450m. Capex for the entire project will amount to EUR 650m, below initial estimates of over EUR 800m to make the project more bankable. The sponsors will seek to reach financial close by end of June 2014 and begin construction of the new highway as soon as possible. Project Details The 39-year DBFOM involves the extension of a 68km highway between the two Sicilian cities of Ragusa and Catania. Construction is expected to last around five years before the infrastructure becomes operational.