Ferrovie will be privatized in 2016, but ownership of the network will remain public. This is one of the fundamental points of the hearing of Economy Minister Pier Carlo Padoan before the Transport Committee of the Chamber.
The owner of Via XX Settembre presented to the deputies some data relating to the privatization plan wanted by the Italian Government: “In 2016-2018 it is expected that the whole privatization program will lead to revenues of 0,5% of GDP per year. ”
The focus then shifted to State Railways. The minister clearly specified that, despite the privatization process having been started, "the ownership of the network remains public, it being understood that there is a separation between ownership of the network and management of the network". FS will therefore also be a strategic company in the future and a “key infrastructure for Italy.
Talking about the expected listing for 2016, there is no precise timing yet. First it will be necessary to obtain results in terms of management efficiency, "so that the value of the asset as a whole is maximized and therefore allows to obtain the maximum revenue from this operation", explained Padoan.
The proceeds from the quotation, not specified by the minister, will be "destined only to the Government bond amortization fund, with purchase or repayment at maturity, for the reduction of the public debt, according to current legislation".
