Today, April 1, the SIS consortium (Sacyr, 49%; Fininc, 51%) has begun the operation and maintenance of the existing A3 highway (Naples-Pompei-Salerno).
This P3 project has a 25-year concession term, and a future revenue backlog of € 2.7 billion. The project mitigates demand risk thanks to a mechanism that offsets variations in traffic revenue through rates.
SIS will carry out the operation and maintenance (O&M) of this road, and it will also develop construction works for € 390 million, allocated to modernizing and improving road safety on multiple sections of the highway.
Financing
Our investment is financed with a € 518 million bond with expiration in 2045, which has obtained a BBB rating from Fitch Ratings. To finance this P3 project, the consortium also has a bank debt worth €90 million subscribed with Banco BPM.
The A3 has an average daily traffic of nearly 90,000 vehicles and a total 1.69 million annual VKT (vehicles-kilometers traveled). The highway extends 52 km from Naples to Salerno.
The first section of this infrastructure connecting Naples and Pompei was commissioned in 1928.
The A3 is an instrumental infrastructure to southern Naples, as it connects the Vesuvius coast with the ports of Naples and Salerno to the rest of the region’s highways.
