Aveiro City Council (CMA) will receive 2.5 million euros from Empark as financial compensation for the concession, and the contract also includes the Manuel Firmino Mercado car park.
According to a municipal press release, car traffic in Rossio will move from the São João Bridge to the General Humberto Delgado Square, known as "Pontes" or "Ponte-Praça".
On Rua João Afonso de Aveiro, traffic will circulate in both directions and there will also be a cycle path in both directions, duly signed.
"The reopening of Rossio to traffic also restores normal traffic in the Beira Mar neighbourhood, which until now had been restricted," says the press release.
"The new Rossio car park is yet another important infrastructure that will help improve the quality of public space in this central area of the city," it said.
For residents of the surrounding streets, a special overnight rate of one euro has been established between 8 pm and 8 am, requiring registration of the Resident's Card at the Aveiro City Council offices.
The Rossio car park is open 24 hours a day, every day of the year, using the fee already approved, of 1.20 euros per hour.