Credits of the project

Awarding - Supervisory Authority

The GREEK STATE, represented by the DIRECTORATE OF OPERATION, MAINTENANCE & EXPLOITATION OF INFRASTRUCTURES WITH CONCESSION AGREEMENT (DIRECTORATE L.S.E.P.) falling under the General Secretariat of Infrastructures / General Directorate of Transportation Infrastructures of the Ministry of Economy, Infrastructure, Shipping & Tourism, monitors and oversees the operation and maintenance of the motorway. This Service is a successor to E.Y.D.E./S.E.R.A, which was responsible for supervising and overseeing the design and construction of the project.


Concession Company / Stakeholders

"ATTIKI ODOS S.A." is the Concession Company (Concessionaire) of the project, which has undertaken the design, construction, financing, operation and maintenance of the motorway, through the execution of a Concession Contract with the Greek State. The Concession Company's stakeholders' structure consists of AKTOR CONCESSIONS S.A. (a member of ELLAKTOR S.A. Group) holding 59.249%, J.&P. AVAX S.A. holding 20.804%, ETETH S.A. (a member of J.&P. AVAX S.A. Group) holding 10.023%, PIRAEUS BANK S.A./ATEbank with a participation of 9.880% and the French company EGIS PROJECTS S.A. holding 0.042%.


Construction Consortium

"ATTIKI ODOS CONSTRUCTION JOINT VENTURE" is the construction company for the project, a joint venture made up of Greek companies, led by AKTOR S.A., which successfully implemented a complex and difficult project, bringing together the greatest construction companies of Greece.


Operation & Maintenance Company

"ATTIKES DIADROMES S.A." is the company which has undertaken the operation and maintenance of Attica Tollway. The shareholders of the Concession Company participate in Attikes Diadromes with a stake of 80% (ATTIKA DIODIA S.A.), together with the French Company EGIS ROAD OPERATION (ex Transroute International), with a 20% stake.


Sources of Financing
  • ATTIKI ODOS S.A.
  • EUROPEAN UNION
  • EUROPEAN INVESTMENT BANK
%PHOTOCAPTION%

Project financing and cost

In the early 90's, the Greek State held an international tender for the assignment of the construction of the Attica Tollway project, by the concession and co-financing method. The Greek group of companies, under the corporate name "Attiki Odos", was the successful bidder in the tender, and the new motorway was eventually named after it.

The Attica Tollway project was completed on time, without exceeding budgeted construction costs, which amounted to approximately 1.3 billion Euros and was in fact the amount stated in the Attiki Odos bid to cover the flat rate for it.

The cost was financed by the Greek State (by 35%, i.e. EUR 420 m.), and also included funds from the Community Support Framework. The Concession Company "Attiki Odos S.A." covered the remaining 65% using equity and loan capital, contributing the amount of EUR 880 m.

The loans granted to the Concession Company have been covered by the European Investment Bank and Commercial Banks, while the shareholders of Attiki Odos S.A. obtained guarantees for all loans from a Group of International Banks, over the full duration of the construction period.

Financing Bodies
  • The Greek State
  • The European Union
  • The European Investment Bank
  • The Concession Company Attiki Odos S.A.
  • A Group of Commercial Banks