Tomorrow, Thursday, March 28, 2024, at 11:30 in the morning, the Odos concession contract will be signed to the special purpose company established by GEK TERNA and the French EGIS, in the presence of the Minister of National Economy and Finance, Kostis Hatzidakis. of the Minister of Infrastructure and Transport, Christos Staikouras, and the Deputy Minister of Infrastructure, Nikos Tahiaou.
The memorandum of understanding (MOU) has already been signed for the increase in toll fees , on the Egnatia Road, from €0.03 / km, to €0.04 / km in order to reach 0, 065, an increase of 120%. Its publication in the Official Gazette is expected today.
With the signing of the Egnatia Road concession agreement, between TAIPED and the concessionaire, spv “Nea Egnatia Odos”, the completion of one of the largest privatizations that was required to be done within the framework of the memorandum obligations, as the tender for the Egnatia started in 2016, while the preferred investor, namely the GEK TERNA-EGIS scheme, was announced in August 2021.
Five (5) months until the completion of the transaction
So after eight (8) years, the signatures are being entered into this large concession, which, however, still has a way to go until the financial part of the transaction is completed and the concession holder pays the price of €1.35 billion. euros, but reduced by €170 million.
It is noted that the investor had initially offered €1.496 billion, but due to the increase in interest rates, in the two and a half years that passed until the contract was signed, we ended up cutting the price.
After tomorrow’s signing and within a period of five (5) months, the contract must of course be ratified by the Parliament, but at the same time prerequisites that have not yet been met must be completed before the private individual settles in and takes over the management and operation of the road axis and the three vertical.
These famous prerequisites have been mentioned time and time again, with the most important pending concerning the permits of tunnels, which had been built in a time before the new safety regulations. The relevant studies have been carried out by a TAIPED consultant, with the issue of the approval of interventions and new licenses being the responsibility of DAS.
Also, the side toll stations in Chalastra and Malgara have not been built, due to reactions from the communities of these areas, so this issue is also pending.
In these five (5) months, the “open” issues of the concession should be closed, in order to sign the delivery-acceptance of the Egnatia Road, so that the “New Egnatia Road” can then be established as the operator and administrator of the highway.
