October 06, 2015

NTV to order Pendolinos for new services

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THE steering committee of Italian open-access high-speed operator NTV met at its headquarters in Rome on October 1 to deliberate on the next steps and future goals for the company, including an order for new trains and an increase in the company's capital.

NTV plans to expand its network in December 2018 serving new destinations and increasing frequency on existing routes. These services will be operated by a fleet of eight 250km/h Alstom Pendolino EMUs, which will be branded Evo.

NTV has also successfully raised its capital by €60m following an agreement on July 17, although only certain shareholders have participated: Mr Diego della Valle, Mr Luca di Montezemolo, Mr Gianni Punzo, Intesa San Paolo, Generali, Mrs Isabella Serragnoli, Mr Alberto Bombassei and a new entrant, CEO Mr Flavio Cattaneo.

French National Railways (SNCF) and NTV's former CEO Mr Giusppe Sciarrone have not increased their shares.

An important step for NTV's reorganisation will be the assignment of new train paths at the key stations of Milan Central and Turin Porta Nuova from December. The company is also planning a new Rome - Verona service and enhanced bus links to feed into its train services at the Medio Padana Station in Emilia Romagna.

NTV's €681m debt will be rescheduled with the aim of paying off 70% by 2028 and the remaining 30% by 2033.

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