ADELAC is the concessionaire of the A41 north motorway, a 20 kilometre commuter road between
Annecy in eastern France and Geneva in Switzerland.
Number of lanes
Two lanes in each direction
Tolls to escalate annually in February by French CPI plus a fixed percentage under the concession contract
Cash, electronic and credit card
The A41 north 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
Atlas Arteria’s 31.17% indirect interest in ADELAC is held via:
- 15.63% through MAF2 SA (being 62.29% of MAF 2 SA’s 25.1% interest in ADELAC); and
- 15.54% proportionate holding through its indirect interest (being 31.14% in APRR’s 49.9% interest in ADELAC).
When the A41 North road was opened in January 2008, the ADELAC Concession was 49.9% owned by AREA, a subsidiary of APRR and the operator of A41 North. 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 Atlas Arteria 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 an additional 4.0% acquisitions by Eiffage and MAF2 of the remaining minority interests. Accordingly, MAF2 had a 25.0% indirect holding in ADELAC through the APRR Group in addition to a 25.1% direct holding in ADELAC.
On 2 March 2020, Atlas Arteria acquired an additional 6.14% indirect interest in ADELAC, increasing Atlas Arteria’s indirect interest from 25.03% to 31.17%, via its:
- 62.29% interest in MAF2 which holds a 25.1% direct interest in ADELAC; and its
- 31.14% indirect interest in APRR which holds a 49.90% direct interest in ADELAC
The A41 North 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. ADELAC’s concession agreement enables ADELAC, within certain limits, to allocate its annual toll increase to specific toll stations.
During 2021, ADELAC and the Ministry of Transport had separately negotiated a sustainable tolling solution at the Cruseilles toll station and main plaza to align the toll prices at the entry points and improve safety. The outcome of this negotiation resulted in a one-off increase of the toll price at the Cruseilles toll station. In return, the toll escalation formulae for ADELAC was altered as outlined:
- 2022 - 2030: tolls to increase annually by French CPI +1.0%
- 2030 onwards: tolls to increase annually by French CPI
- 2022: tolls to increase annually by French CPI
- 2023-2027: tolls to increase annually by French CPI +1.0%
- 2028: tolls to increase annually by French CPI +0.41%
- 2029 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.