ADELAC is the concessionaire of the A41 motorway, a 20 kilometre commuter road between Annecy in eastern France and Geneva in Switzerland.


Location Eastern France
Road opened 2008
Length 20 kilometres
Number of lanes Two lanes in each direction
Tolling structure Tolls to escalate annually in February by French CPI plus a fixed percentage under the concession contract
Toll collection Cash, electronic and credit card
Concession expiry 31 December 2060
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The A41 provides a strategic link between two important European cities, Annecy in France and Geneva in Switzerland, offering fast transit for commuters and facilitating leisure traffic between Geneva and the French Alps.

The road provides a continuous motorway connection to the A41 (south) and the A40 (west), part of the APRR network. APRR is the operator of the ADELAC Concession.

Concessionaire ownership structure

ALX’s 25.03% interest in ADELAC is held via:

  • 12.55% through Macquarie Autoroutes de France 2 SA (MAF2) (being 50.1% of MAF2’s 25.1% interest in ADELAC); and
  • 12.48% proportionate holding through its indirect interest (being 25.0% in APRR’s 49.9% interest in ADELAC).

When the A41 road was opened in January 2008, the ADELAC Concession was 49.9% owned by AREA, a subsidiary of APRR and the operator of A41. This 49.9% ownership interest was subsequently transferred from AREA to APRR.

In November 2016, AREA entered into an agreement to acquire an additional 46.1% interest in ADELAC. MAF2 (the entity through which ALX holds its interest in the APRR Group) and Eiffage subsequently entered into an agreement with AREA to purchase this 46.1% interest. This was followed by additional 4.0% acquisitions from Eiffage and MAF2 of the remaining minority interests.

Accordingly, MAF2 has a 25.0% indirect holding in ADELAC through the APRR Group in addition to a 25.1% direct holding in ADELAC.

The A41 was opened in 2008 and is 20 kilometres in length with a configuration of 2x2 lane motorway.

ADELAC has three toll plazas each with cash, credit and ETC toll payment facilities.

There are five tolling categories on the ADELAC concessions, refer to the APRR section for further details.

Under the concession contract, tolls are permitted to increase annually on 1 February by French CPI plus a fixed percentage until the concession end:

  • Until 2020: tolls to increase annually by French CPI + 1.7%
  • 2021-2030: tolls to increase annually by French CPI + 1.0%
  • 2030 onwards: tolls to increase annually by French CPI

In the event that French CPI is negative to the extent that the above calculations result in a toll decrease, tolls will be floored at a 0% change for that year.



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