A total of €247m in funding has been raised for modernisation and safety work on the A32 motorway that connects northwest Italy and France via the Frejus tunnel.
The project includes upgrades to bridges, viaducts and tunnels across 80km of the road. In addition, lighting systems will be fitted with LED technology and noise barriers will be added.
Some €105m of the investment will come from the European Investment Bank (EIB), €92m from Italy’s Cassa Depositi e Prestiti and €50m from development bank UniCredit.
This financing is in addition to €320m provided in 2013 for the construction of a second Frejus tunnel, which is expected to open by the end of the year.
Gelsomina Vigliotti, EIB vice-president, said: “By backing adaptation and modernisation work on the A32 motorway, the EIB is helping to secure a safe and reliable connection for transit traffic between Italy and France, facilitating the movement of goods and people.”