Sacyr and Fininc commission fifth section of the Pedemontana-Veneta (Italy)

  • The project currently stands at  99% progress.

Today, the SIS consortium (51% Fininc and 49% Sacyr) has commissioned the fifth section of the Superstrada Pedemontana-Veneta, by opening the 14-km section that goes from Montebeluna toll to Spresiano toll to traffic.

With this section’s opening, 74 km of the road’s main axis, and 68 km of secondary access ways are already fully operational. This new section continues the previously commissioned four sections and includes five artificial tunnels (Pastro, Colombere, Lavaio, Villa Fanna, Spresiano), which total 1,030 meters in length over the axis.

The concession company, Superstrada Pedemontana Veneta is responsible for this Design–build–finance–maintain-operate contract for a 39-year period from the end of the construction stage. The degree of progress on the total planned investment is 99%.

A strategic asset

The Pedemontana-Veneta highway is one of the most important infrastructures under construction in Italy and one of the main projects in Sacyr’s portfolio, with scheduled investment of €2.6 billion and a revenue portfolio of €12 billion euros, approximately.

The project calls for 162 km of construction: 94 km correspond to the main highway, which connects 34 municipalities and the industrial area of Vicenza and Treviso, and 68 km correspond to secondary access ways. The roadway will include two tunnels: Malo (6 km) and S. Urbano (1.5 km) and eight viaducts.

The highway is part of the European TEN-T and is considered a strategic asset of national importance, as it is located between the brownfield A4 and A27 highways, traversing the Veneto region and passing through the provinces of Vicenza and Treviso.

The initial estimate daily traffic rate for the entire highway is 27,000 vehicles, 20% of which is expected to be heavy traffic.

Award-winning financing

The highway’s construction funding was provided by Europe’s largest bond issue for a greenfield project, totaling €1.571 billion. This bond issue has received four prizes: the 2017 Project Finance International prize in the category of Best European Operation in the field of Transport Infrastructure; Best European Public-Private Project at the 2017 Infrastructure Investor Awards; Best European Funding of a Road Project at the 2017 IJ Global Awards; and the TFX Transport Project Finance of the Year award.

Italy: priority market

Italy is a priority market for Sacyr, within its 2021-2025 Strategic Plan, where SIS has two P3 projects in operation, which amount to a P3 income portfolio greater than €14 billion. Apart from the Pedemontana – Veneta, Sacyr also started operating the brownfield A3 (Naples-Pompei-Salerno) earlier in 2022. This road P3, for a period of 25 years, has an expected backlog of €2.7 billion. SIS will operate and maintain this road and will also execute construction works for €390 million to modernize and improve safety on specific road sections.

SIS was also awarded the contract for the operation of the already running sections of the A21 Turin-Alessandria-Piacenza and the A5 Turin-Ivrea-Quincinetto, as well as the A4/A5 Ivrea-Santhià, Turin’s beltway highways system, and the Turin-Pinerolo section, which total 320 km. This P3 project, set for a 12-year period, includes the ‘design and build’ contract to improve these roads, with a €800 million investment.

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