Resumption of work on two large Greek motorway projects

A total investment of €3.1 billion
More than 10,000 jobs generated
Set to open to traffic by the end of 2015

Following three years of intensive work with the Greek government and its financial partners, VINCI announces the resumption of construction work on the 365 km motorway between Athens and Tsakona and the 240 km motorway section between Maliakos Bay and Kleidi.

The two concession projects underwent in-depth restructuring that made it possible to complete their refinancing in December 2013 and to resume construction work at the beginning of 2014. The two projects account for a total investment of €3.1 billion (Athens-Tsakona: €1.8 billion, Maliakos-Kleidi: €1.3 billion).

VINCI Concessions is a 30% shareholder in the Olympia Odos company, which holds the concession for the Athens-Tsakona motorway, and a 15% shareholder in the Aegean Motorway company, which holds the concession for the Maliakos-Kleidi motorway.

The resumption of these projects, which are crucial to Greek infrastructure competitiveness, illustrates the long-term strength of the public-private partnership model, notwithstanding cyclical fluctuations. In addition, the projects boost local economic development. The resumption of work with a view to opening the motorways to traffic by the end of 2015 will account for about 10,000 direct and indirect jobs during peak construction. Motorway operation will consolidate about 1,000 jobs.