Concession contracts are now a key pillar for large construction groups, and this was also evident in the developments that occurred on Olympia Odos.
The motorway that connects Athens with Patras and will soon reach Pyrgos (the Patras – Pyrgos section will be completed in 2025) was valued at 591 million euros, in order for Hochtief to withdraw from the consortium. Its share (17%) was purchased by the other 4 participants in the Olympia Odos concession, paying 100.5 million euros.
Vinci Concessions increased its stake in Olympia Odos from 29.9% to 36.03%, Avax Concessions from 19.1% to 23.01%, while Aktor Concessions (Ellaktor Group) and GEK Terna each increased their stake from 17% to 20.48%.
In all tenders
GEK Terna, Aktor (formerly Intrakat), Avax and Metlen have been “present” in all tenders for concessions over the last years and it is estimated that agreements are likely to be made, e.g. for the entry of some of them into the largest concession that will be signed in the near future and concerns the Northern Road Axis of Crete (VOAK).
The VOAK concession is heading to the portfolio of GEK Terna, which made the highest offer, as has already happened with the new Attiki Odos concession.
In 2025, the Egnatia Odos will also pass to GEK Terna (75% of the concession, with 25% belonging to EGIS Projects).
GEK Terna has the largest concession portfolio, while it should be noted that for Attiki Odos and Egnatia alone, its offers totaled 4.7 billion euros.
