The Hellenic Republic is currently constructing five major intercity motorways on a concession basis which will largely complete the country’s core highway network.
These motorways are set to significantly upgrade trade, transport and tourism throughout central and southern Greece, boosting economic development. Furthermore, due to the absence of a competing railway network in most of these regions, these motorways are expected to be the main mode of transportation between the country’s regions.
The five motorways are:
A. Maliakos - Kleidi section of the Athens -Thessaloniki Motorway, with a length of 230 km. The Athens – Thessaloniki Motorway is the most important of the core highway network and will be 100% completed after the addition of this section (concessionaire: Aegean Motorway S.A.)
B. Antirrio – Ioannina Motorway (“Ioanian Road”), with a length of 196 km. It will significantly upgrade the Western Greece motorway network, connecting the cities of Agrinio in the South with Ioannina in the North. Furthermore, the concessionaire will also upgrade and operate the Athens - Maliakos section of the Athens - Thessaloniki Motorway, with a length of 172 km, plus the Schimatari - Chalkida 11 km connection (concessionaire: Nea Odos S.A.).
C. Central Greece Motorway, with a length of 175 km. This motorway will run through Central Greece cities (Thessaly and Epirus Regions) and will connect them with the Athens-Thessaloniki Motorway in the South and Egnatia Motorway in the north. The concessionaire will also operate a 57 km part of the Athens - Thessaloniki Motorway, currently under construction on a public contract basis (concessionaire: Kentriki Odos S.A.).
D. Elefsina - Korinthos - Patra - Pyrgos – Kalamata Motorway (“Olympia Road”) with a total length of 366 km. It connects Athens with western Peloponnese and significantly improves connection and travel times between the cities of Athens – Corinth – Patras - Pyrgos and Kalamata (concessionnaire: Olympia Odos S.A.).
E. Korinthos - Tripoli - Kalamata Motorway and the Lefkro - Sparta section with a total length of 205 km. It connects Athens with central Peloponnese and greatly improves travel between Tripoli and the towns of Kalamata and Sparta (concessionaire: Moreas S.A.).
Currently, renegotiation of the above contracts is taking place between the HR, the concessionaires and bank consortia due to the significant change in the economic environment in Greece that negatively affects the projects’ long term financials.
The Hellenic Republic has appointed Barclays Capital, Rothschild & Ernst &Young as financial advisors, Tsimbanoulis Law firm and SNR Denton as legal advisors, and Steer Davies as technical advisor to assist with the privatisation.