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Athens Macedonian News Agency: News in English, 15-12-14

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Privatization of 14 regional Greek airports concluded

  • [01] Privatization of 14 regional Greek airports concluded

    The Greek state's privatisation agency (HRADF) on Monday signed a contract with a constorium headed by Germany's Fraport AG Ltd. to operate 14 regional airports.

    The contract concerns the airports of Thessaloniki, Aktio, Kavala, Corfu, Chania, Cephalonia, Zakynthos, Rhodes, Kos, Samos, Mytilini, Mykonos, Santorini and Skiathos.

    The contract extends for 40 years and investments related to upgrading and refurbishing of existing facilities must be completed within 20 months of the start date, while new projects and expansions must be completed in 48 months.

    According to the company's announcement, "...the transaction closing is expected during the autumn of 2016, at which time full payment of the €1.234 billion upfront concession fee will be made by the Fraport consortium in tandem with the takeover of operations at the 14 airports.

    Fraport will have a clear majority share in the concession companies, while Copelouzos will hold the remaining stake. Actual ownership of the airports will still be retained by the Greek government throughout the concession term. Along with the upfront concession payment, an annual fixed concession fee of initially €22.9 million will be paid. In addition, the Fraport-Copelouzos consortium is required to invest a total of €330 million in airport infrastructure until 2020, followed by maintenance and traffic-driven capacity investments during subsequent years of the project."


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