Ratification bill for Attiki Odos concession is tabled in Parliament

The bill ratifying the new concession agreement for Attiki Odos was tabled in Parliament.

Titled “Ratification of the concession agreement for the funding, operation, maintenance and development of Attiki Odos”, the 25-year agreement was signed on September 12 by the Greek state and HRADF, Nea Attiki Odos Concession SA and GEK Terna SA.

The agreement was worth 3.27 billion euros, the highest in the history of the Hellenic Republic Asset Development Fund (HRADF), according to a statement by the Ministries of National Economy & Finance and Instrastructure & Transport. 

The government has announced that the 3.27 billion euros will be used to reducte public debt, which is expected to total 1.5 points of GDP.

Besides the above amount, the concessionaire will also turn over to HRADF 7.5% of all types of revenues, while it will also be responsible for investments and upgrades worth 380 million euros for the entire duration of the contract.

At the same time, toll prices will be reduced as of October 6 (the turnover date from state to concessionaire) for certain categories of vehicles such as private cars, light commercial-use vehicles, and cars hauling trailers. The tolls for these categories will drop from 2.8 euros to 2.5 euros.

The agreement The first reading in Parliament will take place at the Standing Committee on Production and Trade on Monday.    National Economy & Finance Minister Costis Hatzidakis said that the concession agreement “is the largest of a total of 9 privatizations the ministry has completed this year.” These privatizations “boost the economy, investments, labor. Attiki Odos is a critical project in the daily lives of millions of residents and visitors of the capital. The agreement tabled in Parliament guarantees the further upgrade of the road and the significant reduction of public debt.”

Instrastructure & Transport Minister Christos Staikouras noted that the new agreement “guarantees the road’s unobstructed operation” and proves that “in Greece, collaboration between the state and the private sector can be transparent and beneficial for both sides.”