Refinancing completed for Florence tram PPP concession

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Tram di Firenze SpA, the company in charge of the concession of the tramway network in Florence, has completed refinancing for the project. The consortium is formed by Meridiam (60.4%), RATP Dev (14.5%), Alstom (9.4%) and Hitachi (10.2%) with other multiple companies holding a 5.5% stake. The refinancing paves the way for the construction of future extensions for the tramway network.

Completed in February 2019, the network was used by more than 34.5 million passengers in 2019 and contributed to the decongestion of the city by avoiding around 12,500 cars per day during rush hour in Florence. The 19.5 km-long network has 38 stops and serves many key sites along with the city, including the Santa Maria Novella central railway station, the Careggi Hospital, and the University of Florence. The project also contributes to the reduction of CO2 emissions (14,000 tons per year) and particle emissions by 40% (in Scandicci).

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