Intrakat to join consortium that bid for the new Attica Ring Road concession

INTRAKAT got the green light from HRADF (TAIPED) yesterday for its participation in the tender for claiming the new concession contract for the Attiki Motorway.

According to information, at its meeting yesterday, the Board of Directors of TAIPED approved the accession of INTRAKAT to the Consortium in which BRISA – AUTO ESTRADAS de PORTUGAL S.A. also participates. and “RUBICONE BIDCO S.A.

This means that the Greek construction company is an official member of the higher scheme and, as everything shows, it will participate in the submission of binding offers on July 10. INTRAKAT has made an impressive splash in the construction sector since the change of management last summer.

In addition to its own share capital increase of 100 million euros, it proceeded with the acquisition of AKTOR (which is expected to be formalized after approval by the Competition Commission) bringing its backlog to 4.1 billion euros. At the end of 2022, its backlog had reached 1.32 billion euros.

With the new contracts closed in the first quarter, the backlog of INTRAKAT alone is estimated to have exceeded 1.6 billion euros, and together with AKTOR, 4.5 billion euros. In the TAIPED competition, in which INTRAKAT has an official participation, it raises the interest for the new concession period of Attiki Motorway.

The offers for Attiki Odos

Regarding the big tender for the new Attiki Odos concession period, the final writing of the concession contract has been given to the participating schemes and the preparations among the candidates are intense.

According to the text, it is provided that the prices will be able to be adjusted based on the traffic conditions and after there has been a relevant request from the concession holder. Attiki Odos currently operates with a toll of 2.80 euros. Towards the end of 2022, the Ministry of Infrastructure and Transport had announced the reduction of the price from the new concession period, to 2.50 euros.

Essentially, with the new design, the prices will be able to be revised when the five-year period is completed, if it is proven that there is a large traffic congestion on the axis (something that is already happening in the Metamorfosi-Dukissis Plakentias section). The increase, once finalized, will aim to reduce traffic to tolerable levels.

The current contract ends in October 2024 and we are now exactly 18 months away from its completion. In order to be able to reach the October 2024 target, the bidding process must be run to announce the contractor.

Of course, there are executives from the construction industry who note that with so many consortiums to participate, it is almost certain that there will be objections and appeals that may delay the whole process to an unknown extent.

Attiki Odos and the suitors

The Attiki Motorway is the connecting link of the PATHE road axis (Patra – Athens – Thessaloniki – Evzoni), since it connects the Athens – Lamia National Road with the Athens – Corinth National Road, bypassing the center of Athens. The highway has controlled access and consists of two vertical, intersecting sections, the Elefsina – Stavros – Spaton Freeway, about 52 km long, and the Western Peripheral Road of Ymittos, about 13 km long. The Attiki Motorway also includes a section of the Western Regional Avenue Aegaleo, approximately 5 km long.

The consortiums participated in the expression of interest:

1. ABERTIS INFRAESTRUCTURAS S.A.
2. GRUPPO FININC – INC SpA
3. Association of persons consisting of the companies “GEK TERNA S.A.” and “FS ARK HOLDCO S.a.r.l.”
4. Association of persons “VINCI HIGHWAYS S.A.S. – VINCI CONCESSIONS S.A.S. – MYTILINEOS S.A. – MOBILITY PARTNER S.A.S.”
5. Association of persons “AKTOR CONCESSIONS S.A. – AVAX SA – ADRIAN INFRASTRUCTURE”
6. Consortium consisting of the companies “INDRACAT-BRISA – AUTO ESTRADAS de PORTUGAL S.A.” and “RUBICONE BIDCO S.A.”
7. Consortium consisting of the companies “MACQUARIE ASSET MANAGEMENT MOTORWAY HOLDINGS S.AR.L.” and “FINCOP INFRASTRUCTURE LTD”
8. Consortium consisting of the companies “VAUBAN” – “DIF” – “EGIS”