At 2.5 billion the bar for Attiki Odos – Will the construction companies be left out?


The management-operation of Attiki Odos for the next 25 years, after the expiration of the current contract in 2024, will most likely fall into international funds and specialized investment houses. “Outside the bridegroom” are in danger of being left the two Greek construction groups (Hellaktor and Avax) who are now involved in the operation of the major highway, securing significant revenue-profits. It is equally difficult to secure the participation of other large companies in the industry that have shown interest.

The terms of the tender and the subject of the new contract limit the possibilities of participation of construction companies, as they do not include construction work. THE tender is held only for the operation of the highway and does not concern the planned extensions to the National Road through Kimi Avenue and to Rafina, Lavrio and Vouliagmeni Avenue.

This reduces the business object and the investment interest for the manufacturers, while the contract becomes more attractive and “clearer” for companies in the financial sector.

In order not to leave out the big Greek construction groups, will most likely partner with international investment schemes and with construction groups that have experience in the operation of highways.

It is pointed out that the largest shareholder in the company “Attiki Odos SA” is now Ellactor Group, which through the subsidiary “Aktor Concessions, holds 65.75%. The second major shareholder is Avax group, which holds 24.19% directly and through the subsidiary ΕΤΕΘ 10.02%. The French participates with only 0.04% Egis Projects.

In the tender for the new contract, a great investment interest is expected, which will raise the offered price-financial consideration for the State. In the HRDH that “runs” the tender, they are optimistic that the final bid of the bidder, will exceed 2.5 billion euros, breaking the record created by the privatization of HEDNO.

The positive outcome of the tender will of course have an impact on the formation of the investment and business climate, but also on the course of the shares of companies that now participate in the operation of Attiki Odos.  

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