Impregilo has been provisionally awarded a tender by Milan City Council to select a private partner for the Public Private Partnership concession responsible for the engineering, construction and subsequent operation of Line 4 of the Milan underground railway. The new line will cover a 15.2km stretch from Linate to Lorenteggio. The project covers detailed and executive design and construction of two single-track tunnels 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 approximately US$2.5bn, of which about 2/3 will be financed by funding provided by the Italian State and Milan City Council.
Impregilo and Astaldi will be responsible, on an equal basis, for the civil works, totaling approximately US$1.2bn.
The concession is for 30 years, including 6.5 years for engineering and construction works, and the remaining 23.5 years for the operating phase.
The project envisages total operating revenues of approximately US$3.5bn, computed on the basis of a minimum traffic of 86 million passengers/year guaranteed by Milan City Council.
Impregilo and Astaldi have a 9.6% participation in the concession project