On Wednesday 15 December, the European Commission authorised €217 million of Greek public funding for the construction of the Patra-Pyrgos section of the Olympia Odos motorway.
This will allow the completion and operation of part of the trans-European road network without causing undue distortions of competition.
Greece has notified its intention to grant public aid to Olympia Odos S.A. for the construction of the 74.5 km Patra-Pyrgos section of the Olympia Odos motorway. This company is also the concessionaire for the Elefsina-Patra section of the Olympia Odos motorway, which is already in use. This motorway connects the Attica region with western Peloponnese.
The public support will take the following form: - a €216.6 million grant; - the allocation of a higher share of toll revenues to the concessionaire under the concession agreement to cover certain contractually agreed and capped costs, and a return for the concessionaire to account for the construction of the additional section; - a possible 3-year extension of the concession period under the agreement if the concessionaire does not achieve a certain return by the end of the current concession period. (Original version in French by Lionel Changeur)