Tangenziale Esterna (TE) SpA is a company that pursues the mission of planning and building the Milan Outer Eastern Bypass Road (Tangenziale Est Esterna di Milano or TEEM), which it will manage for fifty years after it becomes operational. Along 32 km of motorway between Agrate Brianza (A4) and Melegnano (A1) and an additional 38 km of new ordinary-standard roadways, this work will ease traffic congestion in the south-eastern quadrant of the Milan Metropolitan Area. Serving as a major driver for employment, the project connects the “Brescia-Bergamo-Milano” (BreBeMi) with the current Milan bypass system (East, West and North), helping to improve quality of life and the environment.
Established on 14 January 2009 by stakeholders from leading enterprises in the construction industry, TE declared the TEEM site open on 11 June 2012, moving from the planning stage to actually converting the 1mm scale blueprint into reality, creating infrastructure of domestic and European scope that Milan and the area around Lodi and Brianza has been awaiting for half a century.
The motto “Growth, employment and… ingenuity – In Italy works that create wealth are not to be found only in museums” sums up the goal pursued by TE with pride and commitment, in the knowledge that building the TEEM is a counter-cyclical boost to the economy in these troubled times. TE aims to achieve this objective by using private capital to fund the €2 billion investment necessary to complete the infrastructure before Expo 2015.
TE is also keen to serve as a pilot concession-holder, the forerunner of a new architecture for privately-funded major works combining tried-and-tested instruments (bridging loans and project financing) with innovative approaches (project bonds and securitization). To close project financing, which is scheduled for the end of 2013, TE is being assisted by leading arrangers BIIS, Banca Popolare di Milano, UBI-Centrobanca and IMI.
The company is headquartered in Milan. TE’s 600 m² offices are located at the Centro Direzionale on Viale della Liberazione 18. TE is a streamlined and agile structure, a well-blended cocktail of the business skills of expert professionals, talented young employees and accomplished women. The company’s employees work in six different departments: the General Office, Technical Office, Administration of Finance and Control, Communications and External Relations, Human Resources, and Management.
Charter – 14/01/2009