EGIS BUMPED FROM ATHENS RING ROAD

Government, concession company, and banking sources working on the lengthy negotiations to finance the Athens ring road build-operate-transfer contract in Greece are now confident that loans will start being released in September or October 1999. Numerous changes to the 1996 concession agreement, including the termination of a contract with EGIS Projects to supply the tolling system, have made the deal bankable. The tolling and communications system, worth well over US$60 million, is to be installed on the 63 km of highways forming the linked Elefsina-Stavros-Spata and the Imittos Western Peripheral motorways around the north of Athens. EGIS is an investor in the highway's concession company. The concession company says the subcontract created a conflict of interest, which became obvious when the technology designs were found not to comply with the concession agreement requirements. Meanwhile, the government is funding essential construction on the ring road, which started 2 years ago, with advance payments from the grants it had committed.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/19598638
• Corporate Authors:

  Public Works Financing

  147 Elmer Street
  Westfield, NJ  United States  07090-2433
• Publication Date: 1999-7

Language

• English

Media Info

• Pagination: p. 3-4
• Serial:
  • Public Works Financing
  • Volume: 131
  • Publisher: Public Works Financing
  • ISSN: 1068-0748

Subject/Index Terms

• TRT Terms: Automated toll collection; Build operate transfer; Concessions; Financing; Government funding; Grant aid; Loans; Road construction; Subcontractors; Toll roads
• Geographic Terms: Greece
• Subject Areas: Aviation; Finance; Highways; I10: Economics and Administration;

Filing Info

• Accession Number: 00767839
• Record Type: Publication
• Files: TRIS
• Created Date: Aug 27 1999 12:00AM