EU verifies progress with the new Attica Road and Egnatia Odos concession tenders

The progress of the major concessions was recorded by the European Commission regarding Attiki Odos and Egnatia, which are in tender status but at a different level. As recorded in the second Post-Program Monitoring Report, the Egnatia Road tender is estimated to be closed in 2023, while minor delays are noted in the corresponding Attiki motorway tender. 

The two tenders are run by TAIPED. Let us remind you that for Egnatia Odos, we are in the pre-contractual period where, with the closing of the last pending issues, we will move on to the signatures with the GEK TERNA-EGIS PROJECTS consortium. The Commission notes that by the end of the year it is estimated that the audit of the Court of Auditors, the sanction by the Parliament and of course the signing of the contract and the financial closure, which reaches 1.5 billion euros, will have been completed.

The Greek-French consortium will take over the main axis of Egnatia Motorway from Igoumenitsa to Kipous Evrou and three vertical axes (Thessaloniki-Promahonas, Thessaloniki-Evzoni and Siatista-Krystallopigi). The length of the road network reaches 1,000 kilometers.

Attiki Motorway

Accordingly, the Attiki Motorway tender has progressed significantly and the submission of the binding bids scheduled (after transfer) for July 10, 2023 is expected. The European Commission‘s report mentions the completion of the concession tender in the 4th quarter of 2024.

It should be noted that the existing contract ends in October 2024, which makes it possible to extend it until the tender is completed. Today eight consortiums of Greek and foreign companies claim the most commercial road concession contract in our country.

Let us remember that the new concession holder will take over the road complex of Attiki Motorway, without requiring additional construction works, apart from maintenance works where these are required. However, it will also undertake the extension of Kymi Avenue, the tender for which is completed in 2023 and is expected to be completed in 2028.

In addition, the toll will drop by 30 minutes, to 2.50 euros, although there is a provision after the end of the first five years under conditions that there will be an increase in the toll.

What else does the Commission see?

In the rest of the ongoing privatizations, special mention is made of the port of Alexandroupolis where it is stated that funding sources will be needed for investments to make the Akriti port more attractive and to increase its value as part of the TAIPED portfolio.

Let us remind you that the tender for the concession of the port of Alexandroupolis was suspended and at this time various scenarios are being examined for its optimal use through large investments as it seems that the port can play a key geopolitical role in the wider region.

For the tenders in regional ports, it is reported that the contract for the sale of 67% of the shares of the Igoumenitsa Port Authority was signed and that the financial closure is estimated for the end of the current year.

It is also reported that the tenders for the ports of Heraklion and Volos are continuing with a possible financial closure in the first quarter of 2024, while for Athens airport it is noted that the entry to the stock market is being prepared to be able to start the sale of 30% of the shares initially with the public offering of AIA shares.