EUROPEAN JESSICA FUND IN SARDINIA

URBAN TRANSFORMATION

SINLOC IS THE KEY PLAYER IN SARDINIA IN AN IMPORTANT ECONOMIC DEVELOPMENT OPERATION

 

In Sardinia, Sinloc is the key player in an important economic development operation; having won the EIB (European Investment Bank) tender together with Banco di Sardegna. This win enabled an investment of approximately € 110 million in eleven strategic projects, almost 40 of which obtained from the JESSICA fund.

JESSICA (Joint European Support for Sustainable Investment in City Areas) is an initiative of the European Commission, in collaboration with the European Investment Bank and the Council of Europe Development Bank (CEB). Substantially, JESSICA is a tool to make the best possible use of structural funds and to attract additional resources from private and/or public investors in the investment process, including possible Public-Private Partnerships. Overall, the Jessica Fund invested almost € 40 million in the Sardinia Region, which activated third parties co-investments for something like € 70 million.

In Sardinia, along with Banco di Sardegna, Sinloc manages the JESSICA Fund – which is a revolving fund that invests in urban development projects. The following projects have been financed by the funds:

  • Construction and management of a natural gas transport and distribution system in three different catchment areas of the island;
  • Purchase for the city of Cagliari of 12 latest-generation trolleybuses to replace the old ones, which have been in service since 1992, and are now obsolete and inefficient;
  • Restructuring and expansion of the Municipal Market of Oristano and the adjacent parking lot;
  • Restoration of the municipal building in Borutta, to upgrade it into a refreshment area to be managed and supported by young entrepreneurs;
  • Covering of Alghero’s municipal swimming pool, on which solar thermal and photovoltaic panels have been installed;
  • Renovation of Alghero’s Palazzo Civico, with the restoration and demolition of architectural barriers;
  • Construction and management for 15 years of Cagliari’s new cruise terminal;
  • Design, implementation and management of the ANFASS integrated centre of Selargius, for the rehabilitation of people with cognitive and relational disabilities;
  • Funding four multi-purpose sports areas in the municipality of Sassari, including the renovation of the Serradimigni Palasport sports facility.