Attiki Odos tolls to be reduced

Attiki Odos tolls to be reduced

The Attiki Odos highway tolls will be reduced with the new concession contract from 2.80 euros to €2.50.

The contract, which was approved by the board of directors of the Hellenic Republic Asset Development Fund (TAIPED) and sent to the finance and infrastructure ministries for comments, stipulates that the tolls will remain at these levels for a five-year period and then that the contractor can request a review, giving reasons for its request.

The comments are expected within 10 days at the latest while the Ministry of Infrastructure has already given its consent.

Any comments will be able to be incorporated into the final text directly by TAIPED Managing Director Dimitris Politis himself, as the relevant authorization has been secured from the board of directors.

According to reports, the date for submitting binding offers is to be postponed to the first 15 days of July, as an extension will be granted because the current date of May 29, a week after the first election, is not deemed the most ideal. It is also likely that not all the required procedures (and approvals) will have been completed by then.

This is seen as a significant development that is likely to reduce the market’s “grumbling” in recent months to the point of undermining the attractiveness of the new contract, particularly among a number of local construction groups.

At the same time, achieving investment grade status, which would allow access to funds from European development banks, will have a significant impact on financing costs.

Moreover, the existing conditions have changed considerably since the start of the tender process, due to the rise in interest rates.

It is nonetheless expected that interest in the new concession contract will be high, as it is one of the last high-value contracts to be tendered on the Greek market.

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