In order to submit binding offers even within the year, the HRDH announced yesterday the international tender for the new concession of Attiki Odos for 25 years, as the existing contract expires in 2024.
The competition will take place in two phases. In the first phase, which will last until April 20, 2022, the interested parties will express their interest and then those who continue in the second phase will sign the confidentiality agreements with the HRDH and will have access to the Virtual Data Room to submit the binding Offers.
According to the call for expressions of interest, the object of the concession includes the existing road without expansion projects. However, small-scale projects may be included that will ensure the smooth operation of the highway and mainly to avoid congestion due to increased traffic, although this will be specified in the draft concession agreement that will be formed during the second phase of the tender.
High expectations for the price
It is worth noting that the HRDH expects a large participation from Greek and foreign construction groups, as well as many funds abroad. It is estimated that there will be strong interest given the good financial performance and resilience of the project.
The new concession of Attiki Odos is, after all, the biggest project that the HRDH is going to run this year. The CEO of HRDH last September from the TIF had estimated that the financial consideration of this concession will break all records of privatizations, while market estimates raise the price over 2 billion euros.
There are certain financial criteria for participating in the competition. In particular, the companies that will show interest should have an average of equity of at least 400 million euros in the last three years, while if the candidate is an investment fund, it should have managed funds of at least 2 billion euros.
According to information, the HRDH, in addition to the price for such a large project, will pay special attention to the proper operation of the highway, from the first day of validity of the new concession. That is why the technical criteria for participation in the tender include the experience in managing a highway of corresponding length, by at least one member of the consortium for at least two years during the last five years.
Finally, it is noted that the HRDH has appointed “Lazard” and “Piraeus Bank” as financial advisors, the law firm “LAMPADARIOS & ASSOCIATES – LAW FIRM” as legal advisor, as well as the companies “Infolplan”, “T” as technical consultants in relation to the tender and the transaction.
Source From: Capital
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