Autostrade per l’Italia, through its subsidiary Ecomouv SAS, has signed a €2.8bn contract with the French Ministry of Ecology’s Sustainable Development and Transport (MEDDTL) to build and operate a satellite-based toll system for heavy vehicles.

The contract involves the creation and management of a mandatory satellite tolling system for heavy trucks over 3.5t travelling on 15,000km of road called Eco Taxe Poids Lourds.

The system will be implemented and operated by Ecomouv SAS, which will issue new shares to Autostrade per l’Italia’s French partners.

The contract has been awarded for 13 years and 3 months, which includes a 21-month design and construction phase followed by operation and maintenance of the system for 11.5 years.

The funding for the project has been provided by a syndicate of banks, including Banca IMI, Deutsche Bank, Mediobanca, Unicredit and Credit Agricole-Corporate Investment Bank.