Athens: The new, Intercity Buses Terminal project is rekindled

The construction project for the new Intercity Buses Terminal at Eleonas area in Athens seems to be gradually revived as General Transport Secretariat is methodically, putting it back on track. In terms of funding, meetings have already taken place with the European Investment Bank, which, according to well-informed sources, has expressed its interest in the project. 

The construction of the Terminal alone, is estimated to cost roughly 90-120mn euros, without the inclusion of accompanying works for the redevelopment and restoration of the currently run-down surrounding area. This could cause the total budget to soar up to 300mn euros, thus making it one of the most expected projects for the constructions sector.

Mr. Fatsios, Chairman of Attica region’s KTEL company, expressed the firm’s wish to be the implementing entity and the concessionaire of the project for a period of 40 years. This of course requires the acquisition of the property that currently belongs to Attiko Metro SA. The implementing entity of the project will also decide the nature and the size of the project (PPP, concession etc.). The Ministry of Infrastructure though, has already proposed its inclusion into EFSI funding mechanism (Juncker’s Plan).

Regarding the project’s maturation, the great news is that its financial review, which is under completion, is undertaken by the National Polytechic University of Athens. The review encompasses all the available architectural, environmental and transportation data and is expected to provide all necessary information for the decisive, final meetings with the European Investment Bank regarding the project’s approval.

Market specialists say that a well-presented and thorough review will definitely persuade EIB as, in the end of the day, the future project will have the characteristics of an airport, with tens of thousands of passengers on a daily basis, many business opportunities in an area of 4.7 acres and significant profit prospects, rendering it a retributive investment.

The construction works for the new Intercity Buses Terminal are expected to last roughly 18 months. If everything goes well, in 2017 we could see the tender taking place, the project’s initiation in 2018 and its release to the public in 2020. It is really important that there is an existing Metro Line 3 station (Eleonas) located precicely next to the future Terminal linking it directly with the adjacent, Athens city center, the Port of Piraeus and the Airport, facilitating the movement of thousands of passengers to and from strategic locations of Attica.

The new Terminal will also gather, under one roof, all the, currently, scattered bus terminals all over the city, holding temporary licenses, thus constituting a major transportation hub, which will be more convenient and practical for the passengers.

The “Olympic era” project finally seems to be on a materialization trajectory, having spent years in the drawers. Hopefully, all involved parties will opt for the best implementation and operational model that will change the transportation map of the region.

Nikos Karagiannis-ypodomes.com

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