A consortium consisting of Sacyr and Fininc has issued a €518 million ($585 million) bond to close financing for a public-private partnership motorway project in southern Italy, according to InfraPPP.
The A3 (Naples-Pompei-Salerno) highway project involves a 52-kilometer (32-mile) stretch of the Autostrada A3 Napoli-Reggio Calabria motorway, which runs from Naples to Reggio Calabria via Salerno.
The SIS consortium will begin construction works for €390 million ($440 million) to modernize and improve the safety of several sections of the highway and to carry out the operation and maintenance of the road.
The project carries a concession period of 25 years.
