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An agreement to expand infrastructure and promote urban rail transport throughout country
Cassa depositi e prestiti and Ferrovie dello Stato Italiane agreed to work together to support the evolution of urban mobility, a strategic sector to ensure inclusive and sustainable growth.
The initiative confirms the commitment to reduce the infrastructure gap in Italy, where rail transport meets only 36% of local mobility requirements, compared with over 60% in Germany, France and the United Kingdom.
Through the agreement, CDP and FS intend to develop new investments for building metropolitan urban networks and infrastructure, promoting projects related to new works to be carried out (greenfield initiatives) and expanding existing infrastructures (brownfield initiatives), using an approach which encourages the participation of private capital, including public-private partnership schemes (PPPs).
The agreement signed by CDP Chief Executive Officer Fabio Gallia and FS Chief Executive Officer Renato Mazzoncini Italiane will also boost the Urban Transformation process of Italian cities through the creation of a network of integrated services aimed at the well-being of the community.
The role of cities as an economic growth hub and growth generator is significant and growing. Around 68% of the Italian population lives in urban areas where over 40% of Italian GDP is produced. The development of metropolitan networks is therefore a strategic activity carried out by finding sustainable solutions that reduces urban congestion and pollutant emissions by promoting integration between the center and the periphery.