13-Dec-2012 2:49 PM

Gemina postpones 2013 budget and investment programme

Italy's Gemina, a holding company that controls Rome airport operator ADR, stated (12-Dec-2012) it has postponed approval of its 2013 budget and of EUR2.5 billion investment plan amid uncertainty over tariffs that need to be approved by the Government. Gemina said it had put off until Jan-2013 approval of its own budget and ADR's 2013-2022 business plan. The plan foresees EUR12 billion of investments to renovate Rome Fiumicino Airport by 2044, and EUR2.5 billion in the next 10 years. The development plan has been held back by a long-running dispute with the Government over tariffs for airport services. [more - original PR - Italian