How new tender rules work

Author: | Published: 1 Dec 2008

One of the main reasons behind the limited interest from foreign investors in Italian project finance has always been the delay in the issuance of permits required for any sort of economic activity (in Italy, the average time for a tender process for infrastructure projects ranges from around 600 days in Lombardy to 1582 days in Sicily). Such delays have been particularly great in the infrastructure industry, where environmental, social and so-called nimby (not in my back yard) concerns have often stretched the time required for public tendering to years. On October 17 2008, the rules governing the award of public infrastructure under a project financing scheme were amended to reduce the time necessary for public tendering.

Following these amendments, concessions for public works and infrastructure can be awarded in three different ways (to be selected by the relevant awarding authority at the outset):

single-phase tender; two-phase tender; and multi-phase tender. All three...