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Infrastructure Infrastructure Development & Development &
ConstructionConstruction
30 October 200030 October 2000
George Ganotis, General George Ganotis, General Secretary,Secretary,
Ministry of Environment, Physical Ministry of Environment, Physical Planning and Public Works Planning and Public Works
AgendaAgenda
Recent Experience from Infrastructure
projects in Greece
Opportunities for Infrastructure projects in
Greece
Motorways program in Greece
Objectives of the Greek State
Determination of Concession Schemes
Pre-selected Concession Schemes
Characteristics of Concession Schemes
New Athens International Airport at SpataNew Athens International Airport at Spata Hochtief AG with ABB and Kranz group was awarded the position of the
“partner” to the Greek State for the construction, development and operation for 25 years of the DM 4.125 bn New International Airport.
The concession contract was signed in 1995 and construction started in 1996.
Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece
NOW NOW
Substantial completion (98 %) has been achieved
Five month testing period started
Operations are planned to begin on March 2001
Rion - Antirion BridgeRion - Antirion Bridge GEFYRA a consortium lead by GTM International and leading Greek
construction companies, was awarded the Euro 740MM concession contract to finance, construct and operate the Rion - Antirion Bridge.
The concession contract was signed in 1996. This transaction was named by the Project Finance Magazine (a
Euromoney Publication) as the “Best Western Deal of the Year 1998” and the “Best Transport deal of the Year 1998”.
Syndication of the Commercial Bank L/C Facility was successfully completed in 1998.
NOW NOW
Detailed Design completed Permanent Construction started Project is within budget and ahead
of schedule
Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece
Athens Ring RoadAthens Ring Road Attiki Odos,a consortium of the 11 leading Greek construction
companies, was awarded the concession contract to finance, construct and operate the Euro 1.3 bn Athens Ring Road.
The concession contract was signed in 1996. Even though the Supreme Court decided the postponement of the
works in part of the ring road (1998), the project financing structure was re-designed and the concession contract was altered successfully thus avoiding the cancellation of the whole project.
NOW NOW
Financial Closure was achieved Construction has already begun and
18km will be ready by the end of February 2001 as an access road to the New Athens International Airport
Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece
Thessaloniki MetroThessaloniki Metro “Thessaloniki Metro” group (led by BOUYGUES and BOMBARDIER)
was awarded the Euro 660 MM concession contract to design, construct, finance and operate the new Thessaloniki Metro (1 line, 14 stations, total length 10 km).
The project will be financed by the Greek State , European Investment Bank, Commercial Banks and concessionaire’s equity.
NOW NOW
Concession contract was ratified by law in 1999.
Financing Arrangements are being negotiated
Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece
NOW NOW
Shortlisting of revised groups has been completed
Environmental Issues resolved Final tendering stage will be
launched in November 2000
Maliakos Underwater CrossingMaliakos Underwater Crossing A EURO 520 million Concession Based Project to provide an
underwater crossing of the Maliakos Gulf,a very important
project for our main national road Athens-Thessaloniki. Tender process is in progress for the design, construction and
operation of an underwater tunnel linking Maliakos Gulf.
Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece
NOW NOW
Two contracts have been assigned, award for the third is pending
Gas Distribution NetworksGas Distribution Networks Tender process is in progress for the design, construction and
operation of the Gas Distribution Networks in Athens,
Thessaloniki and Thessalia (in the cities of Larissa and Volos). Companies such as Italgas, SPP and Gas de France are
bidding for the specific project.
Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece
Athens Equestrian Center & New RacecourseAthens Equestrian Center & New Racecourse Involves the construction, financing and operation of a new
racecourse and Olympic Equestrian Center in Athens, the construction, financing and operation of a new racecourse in Thessaloniki and the development of the present Phaleron racecourse site for Olympic and, probably, post-Olympic uses.
Project to be awarded on a concession basis with the private sector assigned the operation and further development of the horseracing betting activity.
NOW NOW
Shortlisting process completed Phase B bids are due on
November 14,2000
Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece
Athens Suburban RailwayAthens Suburban Railway
Development, operation and financing of the new Athens
Suburban Railway (commuting rail) through private sector
involvement
Involves the construction of a new link to the New Athens
International Airport, upgrading of existing railway sections
and stations, ticketing systems etc.
The International Tender Procedures will begin the first
semester of the year 2001.
Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece
Light Metro of AthensLight Metro of Athens Urban Transport Organisation of Athens (OASA)
is considering building a Light Metro system in Athens.
The Project is planned to be financed, constructed and operated by a Concessionaire (targeted commencement of operation 2004).
It is going to include four lines passing through commercial and other vital areas of Athens.
The total cost of the project estimated at EURO 600 MM.
Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece
Motorways Concessions ProjectMotorways Concessions Project The Greek Government intends to award a number
of motorway as concessions with a total estimated
project cost in excess of EURO 6 billion. The project covers all the major motorway axes in
Greece
Motorways in GreeceMotorways in Greece
The Greek State aims through the motorway concession
programme at achieving:
the on time completion of a Complete Motorway Network
the design, construction, maintenance and operation of
the motorways in a way that will reduce the journey time
but also ensure the safety, the limited environmental
impact and an improved level of services to the users
the reduction of the State’s financial contribution for the
construction, operation and maintenance of the
motorways
Objectives of the Greek StateObjectives of the Greek State
the optimum utilisation of toll revenues from existing
motorway segments by including them in concession
schemes to support funding for construction purposes
the transfer of risks to the private sector in a way that
will not upset the financial equilibrium of the projects
the optimisation of the whole life cost of the projects
amendments in the existing legal framework
the best possible utilisation of the funds from the CSF III
Objectives of the Greek StateObjectives of the Greek State
the contribution to a high development growth
rate which will assist the Greek Economy in its
effort to converge towards the levels of our
European counterparts
the creation of an effective and flexible
organisational structure within the Greek State
the adaptation of the mentality and oganisational
structure of the local construction sector
the creation of a new sector for the operation of
motorways in Greece
Objectives of the Greek StateObjectives of the Greek State
• Motorway Segments were firstly analysed on a stand alone basis
• Various alternative Concession schemes were then reviewed on the basis of the following principles:
motorway schemes along same corridor
packages to include operationally complementary
motorway segments
achieve minimum project size in order to attract
investors
achieve maximum project size that can ensure
funding
maximise private sector funding
achieve minimum debt service and IRR ratios
Determination of Concession SchemesDetermination of Concession Schemes
The pre-selected Concession schemes include 6 sections:
Maliakos - Kleidi
Elefsina - Corinth - Patra - Pirgos - Tsakona
Corinth - Tripoli - Kalamata & Lefktro - Sparti
Antirio - Ioannina & Athens - Maliakos & Shimatari - Halkida
Central Greece Motorway
Athens Greater Area
Pre-selected Concession SchemesPre-selected Concession Schemes
Maliakos - Kleidi
Central Greece Motorway
Ionian Odos &
Athens - Maliakos &
Shimatari - Halkida
Athens - Patra - Pirgos -Tsakona
Corinth - Tripoli - Kalamata &
Lefktro - Sparti
Pre-selected Concession SchemesPre-selected Concession Schemes
Ο Κ ΤΩ Β ΡΙΟ Σ 2000
Σ Υ Ν Τ Α Ξ Η :
ΤΜ Η Μ ΑΤ Α Α ΥΤ/Μ Ω Ν Π ΡΟ Σ Κ ΑΤ ΑΣ ΚΕΥ ΗΜ Ε Σ ΧΗ Μ Α Π ΑΡ ΑΧ ΩΡ Η Σ Η Σ
ΤΜ Η Μ Α Α ΥΤ /Μ Ω Ν Ο Λ Ο ΚΛ Η Ρ Ω Μ ΕΝ Α ‘Η Υ Π ΟΚΑ ΤΑ ΣΚ ΕΥΗ Μ Ε ΣΧ Η Μ Α Π ΑΡ ΑΧΩ Ρ Η Σ Η Σ
ΥΦ ΙΣ ΤΑ Μ Ε Ν Ο ΑΡΤ Η Ρ ΙΑΚ Ο Δ ΙΚΤ ΥΟ
ΠΡΟΓΡΑΜΜΑ ΠΑΡΑΧΩΡΗΣΗΣΕΛΛΗΝΙΚΩΝ ΑΥΤΟΚΙΝΗΤΟΔΡΟΜΩΝΕΡΓΑ ΑΣΤΙΚΩΝ ΑΥΤΟΚΙΝΗΤΟΔΡΟΜΩΝ ΑΤΤΙΚΗΣ
Athens Greater AreaAthens Greater Area
Characteristics of Concession SchemesCharacteristics of Concession Schemes
Maliakos - Kleidi 20 230 571Athens - Patra - Pirgos -
Tsakona297 360 1.348
Corinth - Tripoli - Kalamata & Lefktro - Sparti
81 193 403
Antirio - Ioannina & Athens - Maliakos & Shimatari -
Halkida177 388 1.153
Central Greece Motorway 170 170 1.108Athens Greater Area 47 47 400
Concession PackageLength (km) for
Construction
Length (km) for Commercial Exploitation
Project Size (mio EURO)
Total about 800 km 1,400 km 5 bn Euros
Final RemarksFinal Remarks
According to all the above mentioned future developments:
Greece is the most important investor of Infrastructure Project in Europe.
3rd Community Support Framework:Total Budget for Greece 50bn Euro
More than 50 % of the above budget will be invested in Infrastructure Projects.
More than 20 % of the total budget requests the participation of private investors
By the end of the year 2000:new institutional framework for all kinds of Projects requesting Public-Private Partnership.