The signing of the contract for the concession of Egnatia Road, between the Greek State and the Fund, on the one hand, and the company NEA EGNATIA ODOS S.A. on the other. as the Concessionaire and the original shareholders, GEK TERNA SA. and EGIS PROJECTS SA, once morest an offer of 1,496,100,000 euros, which will be recalculated based on the provisions of the concession contract on the concession start date, was held today as announced by TAIPED.
The ceremony was attended by, among others, the Minister of Finance, Kostis Hatzidakis, the Minister of Infrastructure and Transport, Christos Staikouras, the Ambassador of France to Greece, Laurence Auer, the Deputy Minister of Infrastructure and Transport, Nikos Tachiaos, the CEO of TAIPED, Dimitris Politis , the chairman of the board of directors of the Hyperfund, Stefanos Theodoridis, the chairman and managing director of GEK TERNA SA, Georgios Peristeris, the chairman of NEA EGNATIA ODOS SA, Emmanuel Moustakas, the managing director of EGIS PROJECTS SAS, Renaud Beziade, the general manager of Financial Services and Executive Member of the Board of Directors. of GEK TERNA SA Penelope Lazarizou and representatives of the organizing banks (Piraeus Bank, Eurobank Bank).
With the signing of the Concession Agreement, the relevant tender conducted by TAIPED is completed and the concession of Egnatia Road and the three vertical road axes is on track for completion. Upon completion of 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 the Egnatia Road and the three vertical road axes.
The signing of the contract for the exploitation of the Egnatia Road marks a new chapter in the history of the road axis, 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 heavy maintenance will be carried out on the Egnatia 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 more than 420 million euros will be completed for the reconstruction of the road axis and the upgrading of the vertical axes. Among the projects is the upgrading of the road axis Chalastra – Evzoni in order to obtain technical specifications of a closed highway, satisfying a constant request of residents and agencies of Central Macedonia. During the 35 years of the concession contract, heavy maintenance works with a total cost of 1.8 billion euros will be carried out. These works mainly concern replacement of asphalt and pavements, heavy maintenance of technical works (bridges, tunnels), replacement of horizontal and vertical markings (signs, striping) and replacement of metal safety barriers. The contract also provides for the construction of 16 Motorist Service Stations (SMS) and 12 modern parking and recreation areas along the road axis.
The Minister of Finance and National Economy, Kostis Hatzidakis, said: “The signing of the concession contract for the Egnatia Road closes a multi-year pending. 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 TAIPED 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 for the improvement of the service to the users of the highway with the construction of 16 Motorist Service Stations, parking and recreation areas. The concession of Egnatia Street is a positive development for the State, highway users, tourism and international trade”.
The Minister of Infrastructure and Transport, Christos Staikouras, said: “With today’s concession agreement, we are setting the conditions for strengthening the sustainability of a major national infrastructure, the Egnatia Road. A highway that forms the backbone of the road map of Northern Greece, from the Gardens of Evros to the Port of Igoumenitsa. Which is connected to PATHE and the Ionian Road, while its connection with E-65 is also progressing. The entire body of mainland Greece thus acquires an adequate network of highways, which makes the passage of people and goods safer and faster.”
The Deputy Minister of Infrastructure and Transport, Nikos Tachiaos, said: “Today we close the long cycle of a difficult tender and we have before us a very important project: the delivery of the Egnatia Road to the concessionaire. This is another big leap that will also lead to its modernization, as this road that gave life to isolated areas of three Regions of Northern Greece, a titanic achievement, is a project that is already starting to age. From our side, in the immediate future, we will exhaust our forces, so that all our obligations are fulfilled in the shortest and most efficient way.”
The managing director of TAIPED, Dimitris Politis, said: “Today a very important agreement is concluded for a critical concession project that will essentially upgrade the largest highway in Greece, bringing a particularly high price to the coffers of the Greek State. With total investments of more than 4 billion euros for the maintenance, upgrading and operation of the highway for the entire duration of the 35-year concession contract, Egnatia Odos is being upgraded and made more modern, safer and more functional, for the benefit of its users and of the whole of Northern Greece. The signing of the concession agreement is the culmination of intensive work by the TAIPED project team and confirmation of the expertise that the Fund has in the implementation of complex projects that contribute decisively to regional development and the improvement of the daily life of citizens and visitors”.
The chairman of the board of directors of the Hyperfund, Stefanos Theodoridis, said: “With the signing of the Egnatia Road concession agreement between the Greek State and the GEK TERNA – EGIS PROJECTS SA joint venture, a new page opens for this important highway, with better traffic for the residents and significant benefits for the economy of Northern Greece and its development prospects. This is a particularly important agreement, since in addition to the significant income it will bring, the additional investments foreseen will make a decisive contribution to the modernization of the road network and the three vertical axes, facilitating the transit role of the country with Europe”.
The president of the concessionaire company NEA EGNATIA ODOS S.A., Emmanuel Moustakas, pointed out following the signing of the contract: “Egnatia Odos, the largest highway in Greece, is a critical interconnecting road axis for Southeastern Europe, and is now preparing to proceed with rapid steps towards the future. With its upgrade to modern infrastructure, the Egnatia Road will continue to play a key role for safe and efficient transport, enhancing the connectivity and economic development of the region. GEK TERNA and EGIS PROJECTS, with their many years of experience and proven reliability in critical infrastructure management, are ideal partners to undertake the upgrade of this strategic project. Possessing technical and financial competence, they are ready to develop Egnatia Odos, guaranteeing maximum safety and comfort for all who choose it for their movements. This partnership marks a new era for Egnatia Odos, with a clear vision focused on improving safety and environmental efficiency, while promoting economic growth and sustainability in all areas served by this unique project.”
Source: APE-MPE
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