The SIS consortium (Sacyr, 49%; Fininc,51%) has signed a 25-year concession contract for Italy’s A3 highway (Naples-Pompei-Salerno).
The portfolio is expected to reach the EUR 2.7 billion mark over the life of the concession. The project mitigates demand risk thanks to a mechanism that offsets variations in traffic revenue through rates.
The Italian Ministry of Infrastructure and Transport awarded SIS this contract, which includes the execution of construction works totaling EUR 390 million to update and improve the safety of several segments of the highway, in addition to operating and maintaining the roadway.
The highway has an average daily traffic (ADT) of nearly 90,000 vehicles and a total 1.69 million annual VKT (vehicles-kilometers traveled). The highway extends 52 km from Naples to Salerno.
The A3 has been instrumental to southern Naples, the southern Naples region, as it connects the Vesuvius coast with the ports of Naples and Salerno to the rest of the region’s highways.
Growth in Italy
Italy is a priority market for Sacyr within the framework of its 2021-2025 Strategic Plan, and with this project, the company advances in achieving its growth objectives in this country.
This is SIS’s third P3 project in Italy, where it already has a portfolio of concession assets greater than EUR 17 billion.
- The Pedemontana-Veneta highway, located in the northeast of the country. This 162-km road, which has a construction investment of close to EUR 2.6 billion, already has four operational sections.
- The already operational highway segments A21 Turin-Alessandria-Piacenza and A5 Turin-Ivrea-Quincinetto, as well as the connecting highway A4/A5 Ivrea-Santhià and Turin’s Beltway Highways System (Satt) and the Turin-Pinerolo segment, which total 320 km of highways in Turin. These will generate a EUR 2.9-billion backlog and require an EUR 800-million investment for improvements.
Additionally, Sacyr’s Italian subsidiary is currently refurbishing the Policlínico, Mangiagalli, and Regina Elena Hospital in Milan, with a budget of EUR 155 million. The project involves constructing a new central building spanning 65,000 m2, with the capacity to accommodate 700 hospital beds, 21 operating rooms, and 45 examination rooms.
Earlier this year, SIS also won the construction contract of the S.S. 340 Regina – Tremezzina bypass, a 9.5-km highway section in Como province for EUR 388 million.