Reference: 20140095
Release date: 28 July 2014

Promoter – Financial Intermediary

HELLENIC REPUBLIC and HELLENIC REPUBLIC ASSET DEVELOPMENT FUND SA

Location

Description

The project comprises the financing, design and construction of the expansion or refurbishment of a number of airports in Greece that are to be privatised by the Greek Government under the terms of a 40 year upgrade, maintenance, management and operation concession agreement.

Objectives

The works represent the imminent capital expenditure requirements which are anticipated to address existing capacity shortfalls and current service level deficiencies at a number of Greek airports. The upgrading of the regional airports is expected to enhance Greece's profile as a tourist destination, thus significantly contributing to the country's growth potential.

Sector(s)

Proposed EIB finance (Approximate amount)

Not disclosed.

Total cost (Approximate amount)

Not disclosed.

Environmental aspects

The Promoter’s technical advisers have identified several elements of anticipated Imminent Works, such as expansions to existing passenger terminals or the construction of new ones, which would normally be classified under Annex II of the EU EIA Directive 2009 2011/92/EC, meaning that the Competent Authority makes the decision as to whether a formal EIA is required or not. This, the status of any pre-existing environmental permits and whether the project falls under the requirements of the EU SEA Directive 2001/42/EC will be reviewed and assessed during project appraisal.

Procurement

The Promotor has classified the concession as a service concession. Its award therefore falls outside the current scope of the EU procurement regime. The Bank will require the Grantor to ensure that the procurement of the concession complies with the relevant principles of the EU Treaty and applicable national legislation. The downstream concessionaire will be a private company not operating in the utilities sector and not having a status of a contracting authority. Thus, it will not be covered by the EU directives on procurement.

Status

Signed - 24/03/2017

Disclaimer

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

Related tags

Greece Transport