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GreeceBusinessHRADF signs concession agreement for Egnatia Odos

HRADF signs concession agreement for Egnatia Odos

Hellenic News of America
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The agreement for the concession of Egnatia Odos between the Greek State and the Hellenic Republic Asset Development Fund (HRADF), as well as the company NEA EGNATIA ODOS and the original shareholders, GEK TERNA and EGIS PROJECTS, for 1,496,100,000 euros, which will be recalculated based on the provisions of the concession agreement, was signed on Friday, according to the Fund.

Upon the signing of the Concession Agreement, the relevant tender conducted by HRADF is concluded and the concession of Egnatia Odos and the three vertical road axes is on track for completion. Based on the stipulated deferrals, the concessionaire, with the guarantees of the original shareholders and the supervision of the Greek State, will assume for 35 years the right to use and exploit Egnatia Odos and the three vertical road axes.

The signing of the agreement marks a new chapter in the history of Egnatia, with significant benefits for the users of the highway, Northern Greece and the national economy as a whole. The infrastructure of the road axis will be significantly upgraded, as for the first time significant maintenance will be carried out on the road and the three vertical axes, which have a total length of 225 kilometers and connect Greece with Albania, North Macedonia and Bulgaria.

Within five years from the start of the concession, significant investments of over 420 million euros will be completed for the reconstruction of the road axis and the upgrading of the vertical axes.

The Minister of Finance and National Economy, Kostis Hatzidakis, commented on the signing of the concession agreement: “The signing of the agreement for the Egnatia Odos solves a long-standing issue. A number of technical and legal hurdles had to be overcome in order to get to where we are today. The concession of Egnatia ensures a double benefit for the state. Firstly, the price which is the second highest recorded so far since the utilization of the HRDAF portfolio. And secondly, the large-scale investments amounting to 1.8 billion euros undertaken by the concessionaire, for the maintenance and upgrading of the road and the vertical axes, as well as the improvement of the services through the construction of 16 service stations, parking and recreation areas. The concession of Egnatia Odos is a positive development for the State, highway users, tourism and international trade.

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SOURCE; ANA-MPA

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