Italy has announced plans to revoke Autostrade per l’Italia’s highway concession, despite the €500 million (US$570 million) offer made by the company in initial aid after the deadly Genoa bridge collapse.
It has been said on a statement that the disaster was fault of the company which had the obligation to look after the ordinary and extraordinary maintenance of the motorway. From now, Autostrade has 15 days to present its counter-arguments. Some sector experts estimate that if it revokes the concession the government will have to pay Autostrade up to €20 billion ($22.85 billion) in compensation for investments the firm has made, though the government denies this.
A plan to reconstruct the collapsed bridge in eight months could be started on Monday. As part of the funding package Autostrade will stop charging tolls in the area, and is planning new roads to ease congestion.