Italy and France Reach an Agreement for High Speed Rail

The Total Value of The Project is 8.2 billion euro


Alessia Pirolo

America24, 20 dicembre 2011, 12:27

Italy and France have reached an agreement for the realization and operation of a high speed rail link between Turin and Lyon, for a total value of 8.2 billion euro.

After three years of negotiations, the agreement has arrived during the Italian-French intergovernmental commission opened by Minister of Infrastructure and Transport, Corrado Passera.

An Italo-French company, whose administrative council will be consist of people from both countries, will have the strategic and operational direction of the project.

The company's headquarters will be in Turin and Italy will be able to choose the CEO and the financial and administrative directors.

The company will be legally based at Chambery in France, and France will nominate the president of the Contract Commission and president of the Service Control.

There will be a representative of the European Commission in the administrative council and the intergovernmental commission.

The work will start in 2013 and will last around 10 years.


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