VINCI has completed the financing of the Athens-Tsakona motorway concession, the largest ever won by the company outside France
Olympia Odos, the concession company led by VINCI Concessions (36%), inpartnership with the German company HOCHTIEF PPP Solutions (25%) andthree Greek construction companies, Aktor Concessions (18%),J&P-Avax (18%) and Athena (3%), has just completed with aconsortium of 19 banks the financing arrangements for the concessioncontract for the Athens-Corinth-Patras- Tsakona motorway, the largestever won by VINCI outside France.
This bank financing that has been put in place, in addition totheequity contributions of the partners in Olympia Odos and a subsidy fromthe Greek government, amounts to 1.6 billion euros, of which, notably,990 million euros is senior debt with a 13-year maturity and 200million euros is a loan from the EIB.
The project involves the financing, construction and repair,as well asthe operation over 30 years, of 365 kilometres of toll motorwayslinking Athens to Tsakona in the south-west of the Peloponnese, viaCorinth and Patras. Of the total, 82 kilometres already exist, 120kilometres need to be renovated and widened, and 163 kilometres of newmotorway will be built over a period of six years. They include theconstruction of 19 kilometres of tunnels and more than 400 works of art(to be made from scratch or renovated) as well as twenty interchanges.
The work will be carried out by a consortium consisting, in particular,of VINCI Construction Grand Projets and its German and Greek partners.The total cost of the project is 2.8 billion euros. The concession cameinto force on 4 August 2008.
VINCI Concessions now has concessions in Greece coveringalmost 600kilometres of toll roads. Apart from Athens-Tsakona, VINCI is leadcompany on the Rion-Antirion bridge, which will include four wholeyears of operation, and is also involved in the Maliakos-Kleidimotorway, the northern section of the Athens-Thessalonica corridor. Thegrowth of VINCI’s presence in Greece illustrates therelevance of integrating the different skills of construction and themanagement of infrastructure concessions.
VINCI Concessions is theleading private operator of motorwayconcessions in the world and the leading player in the concessionarynetwork in Europe in terms of kilometres. Lastly, VINCI Concessions isthe leading motorway concession company in France through its fourmotorway subsidiaries with a network of 4,373 kilometres underconcession.
About VINCI
VINCI is a world leader in concessions, energy solutions and construction, employing 285,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.