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| Aegean Motorway Group to build motorway in Greece The Greek government has decided to award the concession for one of the country's most important road corridors to the Aegean Motorway Group consortium. Vinci Concessions has a 13.75% interest in the consortium, which is led by the German contractor Hochtief. Several major Greek companies are consortium members, including Elliniki Technodomiki and J&P-Avax. The 30-year concession contract covers the upgrade, construction, financing and operation of a 230 km section of existing motorway between Athens and the country's second biggest city, Thessaloniki. The project will be financed by revenue from current traffic (about 20,000 vehicles a day), equity from the concessionaire shareholders, Greek government funding and a project-specific bank loan. Construction will take approximately 4.5 years and is worth about €720 million (under 2005 economic conditions). write your comments about the article :: © 2006 Construction News :: home page |