Who goes down to the competition for Attiki Odos

By Eleni Botas

The interest for the new concession contract of Attiki Odos is expected to be strong, with the submission of an expression of interest having been planned by the HRDH, for today, May 5th.

Schemes such as GEK – First Sentier, ELLAKTOR – ABAX – Ardian, Mytilineos – Vinci and Kopelouzos – Macquarie (ie the information that Intrakat will not participate in the band was not confirmed until late yesterday) are the ones that are expected to show interest in Attiki Odos, whose current contract expires in October 2024.

The submission of financial bids is expected at the beginning of the new year, while in the coming months many issues are expected to be clarified, such as whether the concession contract will include extensions of the highway. Also, what will be the participation of the State (as a percentage) in the gross profits of the highway, as is the case with the other concessions, etc.

What will judge the amount of offers of Attiki Odos

Regarding the main factor that will determine the amount of the price for the concession of Attiki Odos, as Capital.gr wrote is the cost of money in the period in which the financial bids will be submitted.

This means that estimates that the price may exceed 2.5 billion euros, given the current course of the highway in terms of revenue and traffic, but also the future prospects, should not be taken for granted as this will be determined by the level of interest rates, the level of inflation, etc.

This was recently confirmed in a relevant question by Capital by the CEO of ELLAKTOR E. Bouloutas Group, that the amount of offers will be judged by the yield of the ten-year bond, which is an indicator of the level of business loan interest rates.

After all, the spike in inflation internationally fuels concerns about rising interest rates by central banks, which leads to higher government bond yields.

The Greek ten-year bond is now at 3.4% and last week closed with an increase in the spread by 43 basis points.