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        WEST EGNATIA - PANAGIA-GREVENA (TEN)

        Signature(s)

        Amount
        € 290,000,000
        Countries
        Sector(s)
        Greece : € 290,000,000
        Transport : € 290,000,000
        Signature date(s)
        16/11/2007 : € 140,000,000
        21/12/2005 : € 150,000,000

        Summary sheet

        Release date
        22 October 2004
        Status
        Reference
        Signed | 21/12/2005
        20040522
        Project name
        Promoter - financial intermediary
        West Egnatia - Panagia-Grevena (TEN) Project

        EGNATIA ODOS S.A.
        Contact: Mrs Papassiopi

        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to EUR 350m.
        Up to EUR 700 m.
        Location
        Sector(s)
        Description
        Objectives

        The proposed project consists of the design and construction of the final section of the Egnatia road axis (TEN) concerning in total 36km of motorway constructed as a dual carriageway, 22m wide, including a considerable number of tunnels, bridges and interchanges. The project will link the other sections of the Egnatia road axis already financed by the Bank.

        The proposed project, forming part of the ongoing implementation of the Egnatia road axis, is in technical terms one of the most critical parts of the road axis. The completion of the Egnatia road axis will allow substantial travel time-savings and greatly assist private and commercial transport in the area of northern Greece and the Balkans. It will also connect Turkey to central Europe through a high standard motorway.

        Environmental aspects
        Procurement

        The project is subject to an Environmental Impact Assessment (EIA) in accordance with national legislation (the project falls under Annex I of EU Directive 97/11). An EIA study has been already approved and the Joint Ministerial Decision approving the environmental terms has been issued.

        The project will be implemented under a number of separate works, supply and services contracts, which will be procured in line with the requirements of the relevant EU Procurement Directive. Details will be verified during appraisal.

        Comments

        Regional Development and Infrastructure of European Interest.

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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