{"id":104690,"date":"2021-01-21T14:04:14","date_gmt":"2021-01-21T14:04:14","guid":{"rendered":"https:\/\/fin2me.com\/?p=104690"},"modified":"2021-01-21T14:04:14","modified_gmt":"2021-01-21T14:04:14","slug":"red-tape-holding-up-8-5-billion-of-works-italys-autostrade-says","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/red-tape-holding-up-8-5-billion-of-works-italys-autostrade-says\/","title":{"rendered":"Red tape holding up $8.5 billion of works, Italy&#x27;s Autostrade says"},"content":{"rendered":"<figcaption>FILE PHOTO: The logo of an infrastructure group Atlantia is seen outside their headquarters, in Rome, Italy October 5, 2020. REUTERS\/Guglielmo Mangiapane<\/figcaption><p>MILAN (Reuters) &#8211; The lengthy approval process for a new tariff system is holding up around 7 billion euros ($8.5 billion) of infrastructure works, the chief executive of Atlantia\u2019s motorway unit Autostrade per l\u2019Italia said on Thursday.<\/p>\n<p>Autostrade reached an agreement with the Italian government over the tariff plan last year, but is still waiting for it to be finally signed off, CEO Roberto Tomasi said at the presentation of the company\u2019s strategic plan.<\/p>\n<p>The delay in approving the tariff plan, known as PEF, is also slowing negotiations between Atlantia and a consortium of investors aiming to buy Autostrade.<\/p>\n<p>Negotiations to sell Autostrade are part of Atlantia\u2019s effort to end a long-running dispute over the future of the motorway unit, which was triggered in 2018 after a deadly collapse of a motorway bridge operated by Autostrade.<\/p>\n<p>Atlantia owns 88% of Autostrade with Germany\u2019s Allianz, France\u2019s EDF Invest, DIF Infrastructure and China\u2019s Silk Road fund holding the remaining 12%.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-atlantia-motorways-strategy\/red-tape-holding-up-8-5-billion-of-works-italys-autostrade-says-idUSKBN29Q1RK\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: The logo of an infrastructure group Atlantia is seen outside their headquarters, in Rome, Italy October 5, 2020. REUTERS\/Guglielmo MangiapaneMILAN (Reuters) &#8211; The [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":104689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Red tape holding up $8.5 billion of works, Italy&#x27;s Autostrade says - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/red-tape-holding-up-8-5-billion-of-works-italys-autostrade-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red tape holding up $8.5 billion of works, Italy&#x27;s Autostrade says - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: The logo of an infrastructure group Atlantia is seen outside their headquarters, in Rome, Italy October 5, 2020. 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