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| Greek Government awarded Cintra contract of over 1 billion euro Cintra, a subsidiary of Ferrovial, has been selected by the Greek Government as "provisional contractor" to build, finance and operate the Ionian Roads toll concession. The project, in which investment is projected at 1.16 billion euro (mainly construction costs) for a 30-year concession, is Cintra's first move into Greece, where it has bid for another project (investment close to 1.5 billion euro) and is pre-qualified for another two projects that represent a total investment of over 3 billion euro. In this project, as in the others for which it is shortlisted, Cintra is the leader (33.34%) of a consortium with ACS and Greek construction company GEK (both with 33.33%). The concession includes two toll separate roads: - the first runs from Athens to Thessaloniki, Greece's second-largest city, and is the main connection between Athens and northern Greece, - the second road runs parallel to the coast of the Ionian Sea, between the Gulf of Patras and northern Greece. The concession has a total length of 378.7 kilometres: of these, 159 km will be newly-built, while the remainder is in existence (161.7 km) and under construction (58 km). The new road will be built by a consortium comprising Ferrovial's construction subsidiary (Ferrovial Agromán), Dragados (a subsidiary of ACS) and GEK subsidiary Terna. The entire project is expected to be open to traffic within 72 months from signature of the concession, although the consortium will be able to commence operating the existing section of road four months after signature. write your comments about the article :: © 2006 Construction News :: home page |