VINCI signs contract for Athens–Tsakona motorway concession 24 July 2007

Rueil-Malmaison, 24 July 2007 Press release VINCI signs contract for Athens–Tsakona motorway concession The Apion Kleos consortium, led by VINCI with 36%, today signed the contract with the Greek government for the Athens-Tsakona motorway, the country’s biggest motorway concession project. The other members of the consortium are Hochtief of Germany (25%) and three Greek companies, […]

Rueil-Malmaison, 24 July 2007

Press release

VINCI signs contract for Athens–Tsakona motorway concession

The Apion Kleos consortium, led by VINCI with 36%, today signed the contract with the Greek government for the Athens-Tsakona motorway, the country’s biggest motorway concession project. The other members of the consortium are Hochtief of Germany (25%) and three Greek companies, namely Elliniki Technodomiki-Aktor (18%), J&P-Avax (18%) and Athena (3%).

The project calls for the financing, design, construction and/or repair of 365 km of toll motorway between Athens and Tsakona in the south-west of the Peloponnese, via Corinth and Patras. This breaks down into 82 km of existing motorway, 120 km to repair and widen, and 163 km to build. The project also calls for operating the motorway for 30 years.

Since being announced preferred bidder in May 2007, the VINCI-led consortium has finalised the contract and prepared its financing. In addition to an initial subsidy from the Greek government and revenue from existing traffic, the financing package consists of three tranches totalling 1,685 million euros, i.e. 1,210 million euros of senior debt, 400 million euros from refinancing the government subsidy and 75 million euros of standby debt. This financing was entirely subscribed by the following lead banks: Alpha Bank, Calyon, Millennium bcp and Natixis.

With this contract, VINCI will eventually be operating three motorway concessions in Greece totalling about 600 km for 30 years or more. Apart from Athens-Tsakona, VINCI is lead company on the Rion-Antirion bridge, which was opened to traffic almost three years ago, and is participating in the Maliakos-Kleidi motorway in the northern part of the Athens-Thessalonica corridor. The latter project is to be ratified by the Greek parliament this week and is expected to come into force in November 2007.

The success and synergies expected from these three projects will give VINCI a stronger long-term presence in Greece, where the public-private partnership (PPP) culture is now well established and where there remain significant infrastructure needs.

Press contact: Virginie Christnacht
Tel. : 01 47 16 39 56
Fax : 01 47 16 33 88
Email : vchristnacht@vinci.com