Elefsina-Patras motorway

Athens/Patras, Greece

In 2007 the shareholders of the subsequently established Olympia Odos Concession Company won the public tender to plan, finance, build/upgrade, operate and maintain the Elefsina–Patras old national highway, by conversion into a safe motorway. The Elefsina–Patras Motorway with its total length of 201.5 kilometers links the capital of Athens with the northern and western part of the Peloponnesus peninsula, up to the regional metropolis Patras. The public-private partnership project forms part of the PATHE Axis, has an investment volume of EUR 1.8 billion and a concession period of 30 years, during which tolls will be collected by the Concessionaire’s Operator Olympia Odos Operation S.A. until 2038. Upon completion of major construction works under difficult conditions of continuous traffic flow, the Elefsina-Patras Motorway was handed over for full operations in April 2017. Further primary functions of Olympia Odos Operation S.A. are daily smooth operation of the motorway by traffic management, as well as routine and heavy maintenance works.

The project investment amounts to EUR 1.8 billion, of which EUR 1.3 billion is related to construction. HOCHTIEF PPP Solutions GmbH’s partners are Vinci, Aktor, J&P Avax, and Gek Terna. Project financing comes from a pool of equity capital and shareholder loans, commercial loans from domestic and international banks, funding by the EIB and Greek State funds co-financed by the European Union, and from tolls already levied during the construction period.

Sustainable upgrading
The Elefsina-Patras Motorway has a total length of 201.5 kilometers and splits into two sections. Section 1 extends from Elefsina to Korinthos, with a total length of 63.2 kilometers. It has been in full operation since August 2008. The number of lanes in this section is three in each direction plus an emergency lane. This section involved full refurbishment. Section 2 extends from Korinthos to Patras, with a total length of 138.3 kilometers. This section involved the majority of construction works and upgrades, including tunnels of 21 kilometers length in total, 64 bridges, 18 interchanges, and the construction of five Motorist Service Stations (MSS). The number of lanes in this section is two lanes plus an emergency lane in each direction. The construction works in this section were performed under continuous traffic flow.

Facts

• Project: Planning, financing, construction and upgrading, operation and maintenance of the Elefsina-Patras Motorway
• Investment volume: EUR 1.8 billion
• Contract period: 30 years (incl. construction time), 2008–2038
• Client: Ministry of Infrastructure, Transport and Networks
• Concessions company: Olympia Odos Concessionaire S.A.
  HOCHTIEF PPP Solutions GmbH (17%), Aktor Concessions S.A. (17%) J&P Avax S.A. (19.1%), Vinci Concessions S.A.S. (29.9%), GEK Terna S.A. (17%)
• Construction partners: HOCHTIEF Solutions AG (15%), Aktor S.A. (17%), J&P Avax S.A. (17%), Vinci Construction GP (30%), Terna S.A. (17%) Athena S.A. (4%)
• Operating company: Olympia Odos Operations S.A.
  HOCHTIEF PPP Solutions GmbH (17%), Aktor Concessions (17%) J&P Avax S.A. (19.1%), Vinci Concessions S.A.S. (29.9%), GEK Terna S.A. (17%)