The GEK Terna and Egis Projects consortium was declared the preferred bidder for the award of the services concession contract for the operation and exploitation of Egnatia Odos motorway and three vertical road axes for a period of 35 years, the Hellenic Republic Asset Development Fund (HRADF) said on Thursday.
According to a HRADF announcement, the improved financial offer envisages an upfront payment of 1.496 billion euros.
“HRADF’s Board of Directors accepted the offer and decided to declare the GEK Terna SA–Egis Projects SA consortium as the preferred didder,” it said.
The total value of the agreement is 2.766 billion euros.
The bid file will be submitted to the Hellenic Court of Audit for review and the signing of the concession contract will follow it is approved approval.
A 658km motorway, the Egnatia Odos extends from Igoumenitsa, a port city in northwestern Greece, to the Kipi border station with Turkey, in the northeast. The three vertical road axes, totaling 225km in length, are connectors to Albania, Bulgaria and North Macedonia.