Contract to extend Milan underground’s M5 line is signed
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Posted: 2 February 2011 | ASTALDI GROUP | No comments yet
Azienda and ALSTOM have signed an agreement with Milan Municipality to extend Line 5 as far as the San Siro Stadium…
Metro 5 S.p.A. is the SPV (special purpose vehicle) whose main shareholders are Astaldi S.p.A. as leader, Ansaldo STS and Ansaldo Breda, both Finmeccanica companies, and which also sees the involvement of Milan’s transport firm, Azienda Trasporti Municipalizzata (ATM), and ALSTOM. Said company has signed a new concession agreement with the Milan Municipality regarding extension of the Line 5 of the Milan underground as far as San Siro Stadium, which was already the subject of the decree awarding the works dated 29 July 2010.
The value of the investment for the new stretch of underground, including design activities and performance of civil and technological works, stands at EUR 872 million, financed in part by the Ministry of Infrastructures drawing on the Infrastructures Fund (CIPE Resolution of 6/11/2009), in part by the Milan Municipality and in part by private funds. The contract value relating to Finmeccanica’s Transportation Sector amounts to EUR 156 million – EUR 105 million referred to Ansaldo STS and EUR 51 million referred to AnsaldoBreda. Approximately EUR 440 million will be invested to perform the civil works, which will be executed by Astaldi.
Metro 5 S.p.A. has already been awarded the concession to construct and manage the section of Line 5 running from Bignami to Garibaldi Station – a 6 kilometre route featuring 9 stations – using the project finance formula. The new agreement means that the line will be extended for further 7 kilometres with 10 new stations, allowing a connection from the Garibaldi Station/Repubblica area to San Siro Stadium, employing Finnmeccanica Group technology to construct the 100% automatic, driverless system.
The works are planned to be completed in time for the EXPO 2015 and, to this end it is planned to perform excavation activities on two different fronts, using 4 TBMs (Tunnel Boring Machine). At the end of the construction phase – scheduled to last 57 months – Metro 5 S.p.A. will operate the new subway stretch for a period of 25 years and 7 months, with revenues amounting to over EUR 1,300 million.
Ansaldo Breda, Ansaldo STS, Astaldi S.p.A, Finmeccanica