The issue of the concession of Autostrade per l'Italia (ASPI) company to manage motorways and the new bridge in Genoa has come to an impasse and will have to be addressed at the next meeting of the Council of Ministers, Italian Prime Minister Giuseppe Conte said on Thursday
GENOA (Pakistan Point News / Sputnik - 01st October, 2020) The issue of the concession of Autostrade per l'Italia (ASPI) company to manage motorways and the new bridge in Genoa has come to an impasse and will have to be addressed at the next meeting of the Council of Ministers, Italian Prime Minister Giuseppe Conte said on Thursday.
ASPI was responsible for the management of the Morandi bridge in Genoa before it collapsed in 2018 killing 43 people. When the new bridge was under construction, it entered into talks with the government since it wanted to retain the concession to manage the bridge and motorways.
In July, after thorny talks with the Council of Ministers a deal was reached. One of its conditions, according to the government's press release, was the transfer of control of ASPI to a state-owned entity (investment bank Cassa Depositi e Prestiti - CDP).
On Tuesday, however, Atlantia (Benetton-led group controlling ASPI) said in a press release it did not intend to cede ASPI to the CDP and intended instead to sell its shares under market conditions.
"It seems to me there is an impasse. The issue will return to the consideration of the Council of Ministers at the first possible meeting for further evaluation," Conte told reporters in Naples when asked how the issue of the concession is going to develop after the recent statement by Atlantia.
At the same time, Paola De Micheli, minister of infrastructure and transport, speaking at a boat show in Genoa, said the revocation of the concession from ASPI was now "more possible."
The government could not revoke the concession immediately and without a deal because otherwise it would have had to pay to Atlantia a significant compensation.
In July, Premier Giuseppe Conte gave the company an ultimatum saying it must present a proposal ensuring public interest, otherwise its concession would be revoked. Other points of the deal of July 14 included compensatory measures at the sole expense of ASPI for the total amount of 3.4 billion euros and reinforcement of the control system.
Atlantia said in a press release on Tuesday that the sale of ASPI "can only be concluded under real market conditions following conclusion of a settlement agreement between ASPI and the Ministry of Infrastructure and Transport" and that such conditions "ensure ASPI's long-term attractiveness to investors."
Those responsible for the tragedy that killed 43 persons have not been identified.
