The new 25-year concession contract for the Attiki Odos motorway to the GEK TERNA group was signed today, Thursday, by the competent ministers of National Economy & Finance, Kostis Hatzidakis, and Infrastructure & Transport, Christos Staikouras.

Christos Christakis, Minister of Finance and Minister of Transport, Mr. Christos Takis, Mr. Khristis Kourakis, Minister of Finance and Mr. Christos Takis.

For the signing of the contract, the two ministers were duly authorized by the Council of Ministers on 28 August 2024. In fact, on 10 September the relevant Act of the Council of Ministers was published. On the contractor’s side, the contract was signed by the Executive Member of the Board of Directors of GEK TERNA, Emmanuel Moustakas, and on the contracting authority’s side by the Managing Director of the Hellenic Property Development Fund, Dimitris Politis.

The contract gives five months to complete the financial closing of the agreement and pay the 3.27 billion euro price which will trigger the start of the concession i.e. by February 12, 2025. This period is reportedly considered necessary for the contracting parties to close all the prerequisites of the contract and can be extended if both parties agree. Something similar happened with the signing of the contract for Egnatia Odos, for which the five-month period expired at the end of August but the financial closure has been postponed.

The new page that Attiki Odos is turning is also reflected in the revision of its pricing policy, which is coming much more quickly to the fore with a reduction of the toll to 2.50 euros from 2.80 euros currently from 6 October. During the summer the contract was approved by the Court of Audit and will soon be ratified by the Parliament in order to hand over the axis to the new concessionaire.