EYDAP State agreement for unrefined water and infrastructure

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EYDAP and the State reached an agreement on the cost of untreated water by 2040. EYDAP is required to pay is 40% less than what it paid until 2013, while the State will entrust to EYDAP the maintenance and operation of infrastructure storage and transport of water in Attica for three years. The two contracts were approved by the Board of Directors of EYDAP.

According to the announcement:

The Board of Directors of EYDAP, at its meeting on Wednesday, December 1, decided to convene an Extraordinary General Meeting of Shareholders to sign the contract with the Greek State which sets out the terms of renewal of the exclusive right to provide water and sewerage services. Α.Π. SA until 31.12.2040 and for the signing of the contract for the operation and maintenance services of the External Water Supply System (EYS) for three (3) years.

With the ratification of the agreement between EYDAP and the Greek State, which follows the recent issuance of the relevant law 4812/2021, the reasonable transaction price is determined in relation to the unrefined water supplied by the EYDAP Fixed Assets Company to EYDAP during the period 12/10 / 2013-31 / 12/2020 as well as the sale price of untreated water from the Greek State to EYDAP for the next 20 years – lower by 40% compared to the price paid by EYDAP from 2004 to 2013. setting the price of untreated water for the next 20 years, now provides a stable pricing environment for its consumers, but also a clear picture for investors who want to support the company in its demanding investment plan and its transformation. The fact that EYDAP can recover the amount payable of € 157.2 million relating to the period 2013-2020 within the period of validity of the contract of article 114 of Law 4812/2021, contributes to the further positive evaluation of the development for the Company.

With the signing of the two contracts, a long-standing stand is finally closed, a fact that now allows the Company long-term visibility and gives it the opportunity to implement its demanding strategic plan, for the benefit of all parties involved. This, in essence, means the possibility of streamlining operating costs, accelerating the implementation of the investment program, improving the services provided, expanding the activities and the customer base, participating in PPPs and an overall positive future course for EYDAP.

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