Egnatia Motorway and Athens International Airport, HRADF’s trump cards

Following the completion of the Thessaloniki Port Authority’s, and shortly EESTY’s privatizations, HRADF is looking ahead to its next objectives, and what now seems to be predominant is the privatization of Egnatia Motorway and the extension of Athens International Airport concession contract.

Provided that these two are fullfilled until the end of 2018, this could bring significant revenue to the Fund. In the case of AIA “El Venizelos”, the amount has been redefined and, according to sources, is expected to increase sharply from approximately 600mln euros today, to 1.1bn euros, giving an important boost to HRADF’s financial results as we move towards the end of the year.

If all goes as planned, until the end of the year we will be having the financial closure for Hellinikon project with the first installment of 300mln euros that will be added to the “treasury” of HRADF. It is reminded that during this year it has already received 231.9mln euros from ThPA, 284mln euros from OTE and 251.8mln euros from DESFA, etc.

These will lead us to the end of 2018. In 2019, we will have, as it turns out, the completion of the concession of Egnatia Motorway and its 3 vertical axes (approximately 1,000 km), with the estimated amount still remaining unknown. However, if we take under consideration that the construction cost of this huge road project (it had cost around 6bn euros), then the stake offered by the interested parties is expected to be very high.

Nikos Karagiannis-ypodomes.com

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