- The agreed investments will be compensated with a yearly tariff increase of between 0.27% (Sanef) and 0.40% (Sapn) from 2019 until 2021.
- The new investment plan will focus on the upgrade of the French network around 4 basic pillars –improvements in road safety, traffic fluidity, quality of the service and environmental sustainability-, in line with preceding agreements as the Paquet Vert and the Plan Relance.
- The announcement is another example of the French Government commitment to public-private partnerships in order to find solutions for the infrastructures financing in the country.
Sanef, Abertis’ subsidiary in France, has reached an agreement with the French Government for the launching of a new investment plan for the upgrading of its road network. According to the agreement, Sanef will invest €147Mn in several projects, in exchange for a yearly tariff increase of between 0.27% (Sanef) and 0.40% (Sapn) from 2019 until 2021.
This new plan will allow the upgrade of the French road network around 4 basic objectives –improvements in road safety, traffic fluidity, quality of the service and environmental sustainability-, while giving a new boost to the French economy through the implementation of projects to support the activity and job creation of companies in the country.
Among the main works agreed, there are the construction of some road junctions, the increase of car sharing parking spaces, or several programmes on water management.
Having important precedents as the Paquet Vert (2010-2013) and the Plan Relance, approved in 2015 and currently in execution; this plan is another example of the commitment of the French Government to public-private partnerships, which aim to encourage private investment in the short term in public assets by providing it with a return over several years.
The announcement comes days after Abertis reinforced its commitment to the French market with the acquisition of an additional 10.5% up to 63.07% in Holding d’Infraestructures de Transport (HIT), which controls 100% of Sanef.
Abertis in France
Abertis has operations in France since 2006 through HIT, which controls 100% of Sanef. The subsidiary directly operates more than 1,760 km of toll roads in the northwest of France, Normandie and Aquitaine, representing the 22% of the country's total toll roads network. Sanef manages five of the seven access routes to Ile-de-France (Paris region) and so the traffic routes connecting Germany, Belgium and Luxembourg to the north of France and the United Kingdom.
France is Abertis’ biggest market. The business in France generated €1,243Mn in revenues (35% of the Group’s total) and €837Mn in EBITDA (35%) in the first nine months of 2016.