Infrastructure Infrastructure Development & Development &

ConstructionConstruction

30 October 200030 October 2000

George Ganotis, General George Ganotis, General Secretary,Secretary,

Ministry of Environment, Physical Ministry of Environment, Physical Planning and Public Works Planning and Public Works

AgendaAgenda

Recent Experience from Infrastructure

projects in Greece

Opportunities for Infrastructure projects in

Greece

Motorways program in Greece

Objectives of the Greek State

Determination of Concession Schemes

Pre-selected Concession Schemes

Characteristics of Concession Schemes

New Athens International Airport at SpataNew Athens International Airport at Spata Hochtief AG with ABB and Kranz group was awarded the position of the

“partner” to the Greek State for the construction, development and operation for 25 years of the DM 4.125 bn New International Airport.

The concession contract was signed in 1995 and construction started in 1996.

Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece

NOW NOW

Substantial completion (98 %) has been achieved

Five month testing period started

Operations are planned to begin on March 2001

Rion - Antirion BridgeRion - Antirion Bridge GEFYRA a consortium lead by GTM International and leading Greek

construction companies, was awarded the Euro 740MM concession contract to finance, construct and operate the Rion - Antirion Bridge.

The concession contract was signed in 1996. This transaction was named by the Project Finance Magazine (a

Euromoney Publication) as the “Best Western Deal of the Year 1998” and the “Best Transport deal of the Year 1998”.

Syndication of the Commercial Bank L/C Facility was successfully completed in 1998.

NOW NOW

Detailed Design completed Permanent Construction started Project is within budget and ahead

of schedule

Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece

Athens Ring RoadAthens Ring Road Attiki Odos,a consortium of the 11 leading Greek construction

companies, was awarded the concession contract to finance, construct and operate the Euro 1.3 bn Athens Ring Road.

The concession contract was signed in 1996. Even though the Supreme Court decided the postponement of the

works in part of the ring road (1998), the project financing structure was re-designed and the concession contract was altered successfully thus avoiding the cancellation of the whole project.

NOW NOW

Financial Closure was achieved Construction has already begun and

18km will be ready by the end of February 2001 as an access road to the New Athens International Airport

Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece

Thessaloniki MetroThessaloniki Metro “Thessaloniki Metro” group (led by BOUYGUES and BOMBARDIER)

was awarded the Euro 660 MM concession contract to design, construct, finance and operate the new Thessaloniki Metro (1 line, 14 stations, total length 10 km).

The project will be financed by the Greek State , European Investment Bank, Commercial Banks and concessionaire’s equity.

NOW NOW

Concession contract was ratified by law in 1999.

Financing Arrangements are being negotiated

Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece

NOW NOW

Shortlisting of revised groups has been completed

Environmental Issues resolved Final tendering stage will be

launched in November 2000

Maliakos Underwater CrossingMaliakos Underwater Crossing A EURO 520 million Concession Based Project to provide an

underwater crossing of the Maliakos Gulf,a very important

project for our main national road Athens-Thessaloniki. Tender process is in progress for the design, construction and

operation of an underwater tunnel linking Maliakos Gulf.

Recent Experience from Infrastructure Recent Experience from Infrastructure projects in Greeceprojects in Greece

NOW NOW

Two contracts have been assigned, award for the third is pending

Gas Distribution NetworksGas Distribution Networks Tender process is in progress for the design, construction and

operation of the Gas Distribution Networks in Athens,

Thessaloniki and Thessalia (in the cities of Larissa and Volos). Companies such as Italgas, SPP and Gas de France are

bidding for the specific project.

Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece

Athens Equestrian Center & New RacecourseAthens Equestrian Center & New Racecourse Involves the construction, financing and operation of a new

racecourse and Olympic Equestrian Center in Athens, the construction, financing and operation of a new racecourse in Thessaloniki and the development of the present Phaleron racecourse site for Olympic and, probably, post-Olympic uses.

Project to be awarded on a concession basis with the private sector assigned the operation and further development of the horseracing betting activity.

NOW NOW

Shortlisting process completed Phase B bids are due on

November 14,2000

Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece

Athens Suburban RailwayAthens Suburban Railway

Development, operation and financing of the new Athens

Suburban Railway (commuting rail) through private sector

involvement

Involves the construction of a new link to the New Athens

International Airport, upgrading of existing railway sections

and stations, ticketing systems etc.

The International Tender Procedures will begin the first

semester of the year 2001.

Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece

Light Metro of AthensLight Metro of Athens Urban Transport Organisation of Athens (OASA)

is considering building a Light Metro system in Athens.

The Project is planned to be financed, constructed and operated by a Concessionaire (targeted commencement of operation 2004).

It is going to include four lines passing through commercial and other vital areas of Athens.

The total cost of the project estimated at EURO 600 MM.

Opportunities for Infrastructure Opportunities for Infrastructure projects in Greeceprojects in Greece

Motorways Concessions ProjectMotorways Concessions Project The Greek Government intends to award a number

of motorway as concessions with a total estimated

project cost in excess of EURO 6 billion. The project covers all the major motorway axes in

Greece

Motorways in GreeceMotorways in Greece

The Greek State aims through the motorway concession

programme at achieving:

the on time completion of a Complete Motorway Network

the design, construction, maintenance and operation of

the motorways in a way that will reduce the journey time

but also ensure the safety, the limited environmental

impact and an improved level of services to the users

the reduction of the State’s financial contribution for the

construction, operation and maintenance of the

motorways

Objectives of the Greek StateObjectives of the Greek State

the optimum utilisation of toll revenues from existing

motorway segments by including them in concession

schemes to support funding for construction purposes

the transfer of risks to the private sector in a way that

will not upset the financial equilibrium of the projects

the optimisation of the whole life cost of the projects

amendments in the existing legal framework

the best possible utilisation of the funds from the CSF III

Objectives of the Greek StateObjectives of the Greek State

the contribution to a high development growth

rate which will assist the Greek Economy in its

effort to converge towards the levels of our

European counterparts

the creation of an effective and flexible

organisational structure within the Greek State

the adaptation of the mentality and oganisational

structure of the local construction sector

the creation of a new sector for the operation of

motorways in Greece

Objectives of the Greek StateObjectives of the Greek State

• Motorway Segments were firstly analysed on a stand alone basis

• Various alternative Concession schemes were then reviewed on the basis of the following principles:

motorway schemes along same corridor

packages to include operationally complementary

motorway segments

achieve minimum project size in order to attract

investors

achieve maximum project size that can ensure

funding

maximise private sector funding

achieve minimum debt service and IRR ratios

Determination of Concession SchemesDetermination of Concession Schemes

The pre-selected Concession schemes include 6 sections:

Maliakos - Kleidi

Elefsina - Corinth - Patra - Pirgos - Tsakona

Corinth - Tripoli - Kalamata & Lefktro - Sparti

Antirio - Ioannina & Athens - Maliakos & Shimatari - Halkida

Central Greece Motorway

Athens Greater Area

Pre-selected Concession SchemesPre-selected Concession Schemes

Maliakos - Kleidi

Central Greece Motorway

Ionian Odos &

Athens - Maliakos &

Shimatari - Halkida

Athens - Patra - Pirgos -Tsakona

Corinth - Tripoli - Kalamata &

Lefktro - Sparti

Pre-selected Concession SchemesPre-selected Concession Schemes

Ο Κ ΤΩ Β ΡΙΟ Σ 2000

Σ Υ Ν Τ Α Ξ Η :

ΤΜ Η Μ ΑΤ Α Α ΥΤ/Μ Ω Ν Π ΡΟ Σ Κ ΑΤ ΑΣ ΚΕΥ ΗΜ Ε Σ ΧΗ Μ Α Π ΑΡ ΑΧ ΩΡ Η Σ Η Σ

ΤΜ Η Μ Α Α ΥΤ /Μ Ω Ν Ο Λ Ο ΚΛ Η Ρ Ω Μ ΕΝ Α ‘Η Υ Π ΟΚΑ ΤΑ ΣΚ ΕΥΗ Μ Ε ΣΧ Η Μ Α Π ΑΡ ΑΧΩ Ρ Η Σ Η Σ

ΥΦ ΙΣ ΤΑ Μ Ε Ν Ο ΑΡΤ Η Ρ ΙΑΚ Ο Δ ΙΚΤ ΥΟ

ΠΡΟΓΡΑΜΜΑ ΠΑΡΑΧΩΡΗΣΗΣΕΛΛΗΝΙΚΩΝ ΑΥΤΟΚΙΝΗΤΟΔΡΟΜΩΝΕΡΓΑ ΑΣΤΙΚΩΝ ΑΥΤΟΚΙΝΗΤΟΔΡΟΜΩΝ ΑΤΤΙΚΗΣ

Athens Greater AreaAthens Greater Area

Characteristics of Concession SchemesCharacteristics of Concession Schemes

Maliakos - Kleidi 20 230 571Athens - Patra - Pirgos -

Tsakona297 360 1.348

Corinth - Tripoli - Kalamata & Lefktro - Sparti

81 193 403

Antirio - Ioannina & Athens - Maliakos & Shimatari -

Halkida177 388 1.153

Central Greece Motorway 170 170 1.108Athens Greater Area 47 47 400

Concession PackageLength (km) for

Construction

Length (km) for Commercial Exploitation

Project Size (mio EURO)

Total about 800 km 1,400 km 5 bn Euros

Final RemarksFinal Remarks

According to all the above mentioned future developments:

Greece is the most important investor of Infrastructure Project in Europe.

3rd Community Support Framework:Total Budget for Greece 50bn Euro

More than 50 % of the above budget will be invested in Infrastructure Projects.

More than 20 % of the total budget requests the participation of private investors

By the end of the year 2000:new institutional framework for all kinds of Projects requesting Public-Private Partnership.