Attiki Odos concessionaire to take over from October

Attiki Odos. The concession contract for the Attica ring road signed on Thursday with GEK Terna is the largest ever signed in Greece, with a total price of 3.27 billion euros. The proceeds from the transaction, whose settlement is expected before the end of the year, will be paid to service the country's debt, cutting it by almost 1.5%.

The Greek state will turn over the management and use of Attiki Odos highway to the new concessionaire, Nea Attiki Odos SA, on October 6, the ministries of National Economy & Economics and Infrastructure & Transport said on Monday.

In a joint statement, the ministries said that this follows up on the concession agreement signed on September 12 that includes the provision of services for the funding, operation, maintenance and development of Attiki Odos.

The date of October 6 (a Sunday) will allow enough time for the ratification of the agreement by Parliament and the completion of the financial transaction, a total of 3.27 billion euros.

The ministries' statement said the amount is "the highest ever achieved in a tender process by the Hellenic Republic Asset Development Fund, reducing equally Greece's public debt by nearly 1.5 percentage points in terms of...

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