ECONOMY

Egnatia extension to April

egnatia-extension-to-april

State privatization agency TAIPED will grant short-listed bidders the right to submit binding financial offers for the concession of Egnatia Odos by April 1, after not submitting their offers by the December 11 deadline.

The market expects the concession project of the highway running across northern Greece to bear a 1.5-billion-euro price tag, half of which concerns investment in maintenance and upgrading work, and the rest the the price of the concession.

The TAIPED board is expected to make that decision early next week, ahead of the hearing of the case the Roadis-Aktor and Vinci-Mytilineos Holdings consortiums have filed at the Council of State. The two bidders had asked TAIPED for an extension but did not get it, and resorted to the country’s highest administrative court, asking for injunction measures against the sole binding offer submitted in time by the consortium of GEK Terna with Egis.

The injunction application was successful and the Terna-Egis offer was not opened, and is now likely to be returned to the investor so that the second stage of the tender process is restarted.