Egnatia Motorway: progress with the pending issues, concession contract to be signed in 2023

The tender for the concession of Egnatia Odos is progressing step by step as we are at the stage of completing the preparation of both the contractor scheme and Egnatia Odos. Let us remember that from the relevant tender process, the GEK TERNA-EGIS PROJECTS scheme prevailed.

The original goal of closure by HRADF within 2022 was not achieved due to pending issues regarding the receipt of the axis and the completion of the pre-contractual period.

Now, according to information, the goal is for the financial closure to take place within 2023 and at a time that will probably be after the national elections. Already in the 2023 budget, HRADF predicts revenues of 1.9 billion euros, of which the largest part concerns the income from the Egnatia Odos concession.

At the moment there are several backlogs that should be completed. The most important of these are the licensing of the Egnatia Odos tunnels by the competent Public Tunnel Authority, the start of operation of all toll stations, the establishment of the amount of tolls, the completion of the financial model based on today’s interest rate reality, etc.

Here it is worth mentioning regarding the operation of the toll stations, we are very close to closing this pending issue. According to information, today a total of 18 frontal stations and a total of 36 of the 40 lateral ones are operating.

With the completion of the pending matters, the contract will be concluded and sent for approval to the Court of Auditors, while then the well-known procedure of ratification by the Parliament and signing of the contract package with the financial closing will take place.

GEK TERNA: The “queen” of the motorways

The concession of Egnatia Odos by TAIPED will also mean the collection of the highest price in the history of the Fund as it approaches 1.5 billion euros. The GEK TERNA – Egis Projects scheme will undertake the management and exploitation of the Egnatia Odos highway and its three vertical road axes for 35 years.

The construction object that the concessionaire will undertake will also be important. The main one is the highway upgrade of the Chalastra-Evzoni section, while also including the heavy maintenance of the axis, upgrades to the tunnels, etc.

The scheme GEK TERNA – Egis Projects will receive from Egnatia Odos S.A. the main axis of 658 kilometers from Igoumenitsa to Evros Gardens but also 3 vertical axes of 225 kilometers. They are the axes Thessaloniki-Evzoni, Kastoria-Krystallopigi and Thessaloniki-Promahonas.

With this concession, GEK TERNA becomes the “queen” of the motorways as it will manage over 1,500 kilometers throughout Greece. In addition to the 883 kilometers of Egnatia, it manages as a concessionaire the Ionian Odos (Antirrio-Ioannina), Nea Odos (Metamorfosi-Skarfeia), Kentriki Odos E65 (Skarfeia-Raches and Xyniada-Trikala) while also participating in the Olympia Odos (Elefsina-Patra ).

At the same time, TERNA has undertaken the construction of the southern section of the E65 Lamia-Xyniada, the northern section of the E65 Trikala-Egnatia and is also participating in the construction of Patras-Pyrgos).