The first major co-financed road project in Greece to be realised through a Concession Contract.
Halcrow was commissioned to provide technical expertise and management support to the guarantor and commercial banks financing the Attiki Odos Motorway. The banks were European Investment Bank, Bank of Tokyo-Mitsubishi, HypoVereinsbank, Commercial Bank of Greece, HSBC Athens, National Bank of Greece, Société Generale, European Investment Fund, ABN AMRO Bank NV, Agricultural Bank of Greece, Alpha Credit Bank,Banca Monte dei Paschi di Siena (London), Bank of Scotland, De Nationale Investeringsbank NV, Piraeus Bank Greece, Ergobank.
The shareholders of the project Concessionaire Attiki Odos SA are a consortium of Greek contractors who also formed the Construction Joint Venture responsible for construction of the project. These contractors are Elliniki Technodomiki, Aktor SA , J&P - Avax Pantechniki SA, C.I Sarantopolous SA, TCGC SA, Eteth SA, Attikat SA, Alte SA, TEG. The project Operator is Attikes Diadromes SA with the same Greek shareholders as Attiki Odos SA and Transroute International SA.
The 65km motorway, which has significantly reduced congestion in Athens city centre, comprises 2x3 carriageways with provision for a light railway in the central reserve.
- Create free movement of traffic across the Attica region
- Reduce congestion in Athens City Centre
- Provide a safe and attractive motorway for motorists
- Repay project loans in accordance with the financial model
- Create a commercially successful PPP tolled motorway
Halcrow was the Lenders’ Technical Adviser
What Halcrow did
- Technical due diligence
- Technical and management support to the banks in negotiations to financial close
- Focused construction phase progress monitoring
- Focused risk monitoring during construction of the 65km motorway
What Halcrow brought to the project
- Combination of commercial and technical service which led to successful financial close of the project
- Effective construction monitoring services
- Operation monitoring and technical know-how support
Client and community benefits
- A motorway backbone linking all the transportation means and infrastructures of Attica
- Significant reduction to traffic volumes within Athens City Centre
- Contribution to the physical planning and town planning development in the Attica region
- Balanced development of the region’s remote areas contributing significantly to the residents’ quality of life
The Bank of Tokyo-Mitsubishi said “Halcrow brings a unique and refreshing combination of engineering excellence and commercial realism to the Attiki Odos Project"