The new Florence tramway has opened, reducing travel time from Piazza dell'Unità to Vespucci Airport to only 22 minutes. CDP contributed to the construction work with funding amounting to 136 million euros
Rome February 12,2019
22 minutes from Piazza dell'Unità to Vespucci Airport: now made possible with the new Florence T2 tramway, inaugurated today with the attendance of President, Sergio Mattarella, Minister of Infrastructure, Danilo Toninelli, CDP CEO Fabrizio Palermo and Florence Mayor, Dario Nardella.
The work is a major contribution to sustainable mobility in the Tuscan capital, connecting the airport and the centre across a densely populated area of the city, with its many institutional buildings such as the Palace of Justice and University and Regional Government buildings.
CDP, in-line with its commitment to sustainable mobility, actively contributed 136 million euros out of the total project financing of 166 million euros to support the investment. This commitment to the T2 Vespucci project highlights in particular the ongoing support for the country and its infrastructure.
CDP intends to strengthen this commitment, with the new Business Plan providing for 25 billion euros of funding over the next three years, aimed first and foremost at providing concrete and strategic support for infrastructure and improvement in public utility services, with a focus on mobility and transport, energy and networks, society and environment.
In addition to CDP, MPS Capital Services also contributed to the building of the new tram network, which led the project financing operation as agent bank, lender, advisor and mandated lead arranger with a stake of 38 million euros.
The city of Florence's new tramway will be free for a period of two weeks and is a testament to the Tuscan capital's dedication to implementing sustainable transport solutions for citizens and tourists. The collaboration between CDP and the city of Florence, which saw the works completed, is the starting point for a joint path of work to continue in the coming years, with further upgrades being planned for the city's tram system.