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French highways are operated by half a dozen companies, all but one which were public until recently (Cofiroute was the only private one) - and all were financed using a very specific mechanism with a centralised fund.

Two things changed in recent years:

  • EU rules forced new highways to be funded on a stand alone basis (in the past, the traditional method was to finance new - lower profitability, because of the lower traffic - highways by extending concessions on older - more profitable - highways. This unduly faviored the existing operators;

  • several of the existing operators have now been partly privatised. They are still heavily regulated by the State (and parties to these long term financing arrangements), but no longer publicly owned.


In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Thu Jan 19th, 2006 at 04:39:48 AM EST
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