Italian tram PPP under appraisal

City in northern Italy receives unsolicited proposal for €400m tram PPP; Italian infra fund raises €3.6bn

A consortium comprising Ferrovie dello Stato Italiane and Brescia Mobilità has submitted a proposal to Comune di Brescia for the design, construction, financing, operation and maintenance of two new tramlines.

Comune di Brescia has until 31 December to evaluate the proposal and enquire the Ministry of Infrastructure and Transport on the availability of public funds, before launching a competitive bidding process.

Under the proposal, private capital will finance most of the project, which is expected to be operational in April 2027.

Ferrovie dello Stato Italiane and Brescia Mobilità signed a cooperation agreement at the end of March.

Meanwhile, Italian infrastructure fund F2i has raised €3.6bn for its Third Fund, €600m more than its set target when the fund was launched in December last year.

The 12-year fund includes airports, natural gas and water distribution networks as well as photovoltaic plants which it inherited from a merger with F2i’s First Fund.

F2i CEO Renato Ravanelli said: “We are pleased to announce the final close of our Third Fund, marking the culmination of a highly ambitious project whose goal was to raise new capital, both Italian and foreign, in order to continue developing, in Italy, the major infrastructural platforms already in the portfolio, while undertaking new initiatives in sectors of strategic importance to the country.”