Record offer for Attiki Odos
GEK Terna has bid 3.27 billion euros for the 25-year concession of the capital’s beltway
The tender for the new 25-year concession of Attki Odos attracted record-level financial offers, but the highest binding financial offer among the six candidates that participated in the process was submitted by GEK Terna. It amounted to 3.27 billion euros and is more than 5% higher than the one immediately below it, therefore there will be no grounds for requesting any further improved offers.
That is a record amount for the Greek privatization and utilization of public assets, being more than twice the price paid for the concession of the 14 regional airports (€1.234 billion) as well as for the concession of Egnatia Odos (€1.496 billion), which are the highest takings ever received by state privatization agency TAIPED.
However, the board of directors at TAIPED, as provided for in the tender documents, will now examine “File B,” which includes all the documents of the bidder’s binding financial offer, and once it finds that everything is in accordance with the conditions, it will proceed to the designation of GEK Terna as the preferred investor. Then the concession contract will be sent for review to the Court of Auditors and if approved, will be signed by TAIPED and the preferred investor and go to Parliament for ratification.
The second binding financial offer of €3.106 billion was submitted by Mytilineos’ consortium with Vinci Highways SAS, Vinci Concessions SAS and Mobility Partner SAS. It is perhaps typical of this tender that the second highest offer is only half a million euros short of being within the 5% range that would qualify it for a new round of improved offers between these two prospective investors.
The offer by Spanish Abertis Infraestructuras is €2.7 billion, that of the joint venture of the current concessionaires Aktor Concessions and AVAX with Meridiam Eastern Europe is €2.548 billion, that of the Macquarie joint venture with Fincop Infrastructure of the Copelouzos group is €2.35 billion, and that of the consortium of Brisa Autoestradas de Portugal and Rubicone Bidco, from Portugal and Great Britain respectively, together with Intrakat is €2.05 billion.
