Milan City Council has provisionally selected a joint venture comprising Impregilo and Astaldi for a public-private partnership (PPP) for Line 4 of the Milan underground railway.
The joint venture, which also includes Ansaldo STS, AnsaldoBreda, ATM (the Milan municipal transport company) and Sirti, will be responsible for the concession, including the engineering, construction and subsequent operation of the line, which will be driverless and fully automated. It will cover a 15,2 km stretch from Linate to Lorenteggio.
The project covers design and construction of two single-track tunnels, one in each direction, with 21 stations and a depot/workshop.
The overall value of the investment, consisting largely of civil works, supply of technological services and mechanical equipment, is about € 1,7 billion, of which about two thirds will be financed by the Italian State and Milan City Council.
Impregilo and Astaldi will be responsible, on an equal basis, for the civil works, totalling approximately € 870 million overall.
The concession is for 30 years, including six and half years for engineering and construction works. The project envisages total operating revenues of approximately € 2,7 billion, estimated on the basis of a minimum traffic of 86 million passengers a year guaranteed by Milan City Council.
Impregilo and Astaldi have a 9,6% participation in the concession project.
In February, Line 5 of the Milan underground, going to the San Siro Stadium, was given to Metro 5, whose main shareholders are Astaldi, Ansaldo STS and Ansaldo Breda.