SUMMARY

The paper addresses the financial, contractual and procedural aspects of the Italian project for high speed railway network (TAV) in the light of actual progress, and some critical considerations are also drawn. With respect to le Groupe Bagnolet's research objectives, the case-study apparently eludes - for particular and for chronological reasons - the topics of internationalization, interaction among different contracting systems, and technical standardization. However, it does give some useful insights for focusing the role of the concession contract when private actors are involved in financing and operating transport infrastructure: this role seems to be crucial in determining times, costs and risks sharing for the project. The solutions adopted for shaping the framework of the actors involved and in particular the project company (in project financing, the so-called special purpose vehicle) are also examined.