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Time to promote
01 August 2003
Italy is serious about PPP this time. But is the country's administrative machinery, or the construction industry, up to promoting it? Marisa Rodrigues reports from Milan and Rome.
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Italy has for several years shown huge potential for PPPs and
project finance in infrastructure. However, while some local
participants expect a dramatic take-off in the market over the next
two to three years, the rate at which deals have moved towards
close to date will not leave many onlookers expecting anything too
explosive.
It is an often-mentioned fact that the need for investment in
infrastructure in Italy is huge. Thirty years ago Italy was thought
to have the most developed road infrastructure in Europe but
infrastructure development has been virtually ignored by Government
in the last twenty years and the level of public spending is well
behind that of Italy's EU partners, which could jeopardise its
economic competitiveness. The development of national
infrastructure has been singled out by Silvio Berlusconi's
government as being one of the main drivers for economic growth;
however, the government has limited resources to devote to
infrastructure projects. In the Economic and Financial White...
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