Hellenic Republic Asset Development Fund

GEK Terna on Friday completed the one-off payment of 3.27 billion euros after being selected as the preferred investor in the Hellenic Republic Asset Development Fund's tender for the 25-year concession of the Attiki Odos highway.

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.

A 40-year concession contract to develop Pylos Marina worth at least 1.5 million euros was signed on Tuesday by the state and the Hellenic Republic Asset Development Fund (TAIPED) on one side, and Pylos Marina SA, the preferred bidder, on the other.

Seeking to relieve popular island destinations such as Santorini, and possibly Mykonos, of the effects of overtourism, the government is planning new legislation that will increase the disembarkation fee for cruise ship passengers. According to a government official, the disembarkation fee cannot "cannot be lower than 10 euros for Santorini."

The path is now clear for the new concession contract for Attiki Odos, following approval from the Court of Audit. The High Court’s approval was granted swiftly, aligning with the goal of the Hellenic Republic Asset Development Fund (HRADF) to financially close the concession contract, likely by the end of the year. Note that the related request was submitted on July 5.

Sani Development and Tourism Company SA, the highest bidder for the development of the Sani-Kassandra property on the Halkidiki peninsula, signed the agreement for the development of the area assessed at 8.6 million euros, the Hellenic Republic Asset Development Fund (TAIPED), a member company of Growthfund, the National Fund of Greece, said on Tuesday.

Greece will set up its first sovereign wealth fund to sell state assets such as estate property, ports and public utilities that were not sold during its debt crisis, its finance minister said on Tuesday.

As Greece prepares to welcome the highest number of foreign visitors in its history this year, around 35 million according to expert estimates, basic public infrastructure remains woefully inadequate.

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 infrastructure upgrade works at the port of Alexandroupoli are proceeding, following a decision by Maritime Affairs and Island Policy Minister Christos Stylianides.