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| Astaldi-Ansaldo STS signed contract for the Milan Underground The special purpose vehicle, led by Astaldi and including Ansaldo Trasporti Sistemi Ferroviari S.p.A., a subsidiary of Ansaldo STS; Ansaldo Breda; Torno; Alstom Trasporti; and Azienda Trasporti Municipalizzata (ATM), has signed a contract with the Municipality of Milan for the construction of line 5 of the underground, for a total value of EUR 502 million. The contract's signing makes it possible to start the activities under project financing – the first time in Italy for urban transport infrastructure – for the concession, which includes the line's management for 27 years and foresees concession revenues for EUR 724 million. The works for carrying out the project have an expected duration equalling 58 months. Of the total EUR 502 million financial requirement, EUR 190 million is covered by the Concessionaire and the financing banks, with the rest covered by public contribution. Within the Concessionaire, Astaldi and Ansaldo STS hold stakes equalling 23.3% and 26.4% respectively. A light, fully automated underground, line 5 will have a 5.6 kilometre path linking the Garibaldi Station to Via Bignami in Milan's eastern outskirts, through 9 stations, transporting a capacity of 26,000 passengers per hour in each direction. write your comments about the article :: © 2006 Construction News :: home page |