Sanef, Abertis’ subsidiary in France, has reached an agreement with the French Government for the launching of a new investment plan for the upgrading of its road network.

According to the agreement, Sanef will invest €147 million (US$158 million) in several projects, in exchange for a yearly tariff increase of between 0.27% (Sanef) and 0.40% (Sapn) from 2019 until 2021. This new plan will allow the upgrade of the French road network around 4 basic objectives –improvements in road safety, traffic fluidity, quality of the service and environmental sustainability-, while giving a new boost to the French economy through the implementation of projects to support the activity and job creation of companies in the country.

Among the main works agreed, there are the construction of some road junctions, the increase of car sharing parking spaces, or several programmes on water management. 

Having important precedents as the Paquet Vert (2010-2013) and the Plan Relance, approved in 2015 and currently in execution; this plan is another example of the commitment of the French Government to public-private partnerships, which aim to encourage private investment in the short term in public assets by providing it with a return over several years.

The announcement comes days after Abertis reinforced its commitment to the French market with the acquisition of an additional 10.5% up to 63.07% in Holding d’Infraestructures de Transport (HIT), which controls 100% of Sanef.