TAIPED signs Egnatia Odos concession deal

The agreement for the concession of Egnatia Odos between the Greek state and the Asset Development Fund (TAIPED), as well as the company Nea Egnatia Odos and the original shareholders, GEK Terna and Egis Projects was signed on Friday, according to TAIPED.

The signing of the concession agreement – for 1.496 billion euros, which will be recalculated based on the provisions of the concession – signals the conclusion of the relevant tender conducted by TAIPED 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 utilize 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, for northern Greece and for the 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 will be completed for the reconstruction of the road axis and the upgrading of the vertical axes.