Greece signs 3.3 bln euro lease for Athens toll highway, sources say (updated)

GEK TERNA

12/09/2024 10:46

(Adds quote, background)
       ATHENS, Sept 12 (Reuters) - Greece has signed a 3.3
billion euro ($3.64 billion) deal for the lease of a toll
highway in Athens with GEK Terna  HRMr.AT , two sources with
knowledge of the matter told Reuters on Thursday.
    The deal will be key for Greece to meet its fiscal target
for revenue of 5.8 billion euros from privatisations and stake
sales in banks this year.
    One of the sources said that the deal was signed earlier on
Thursday and that the aim was to collect the money by the end of
the year. 
    GEK Terna was named last year as the preferred bidder in a
tender for a 25-year concession to operate the 70-km (44-mile)
Attica Motorway. 
        Plans called for the state to collect 7.5% of gross
revenue from tolls annually. Attica Highway is one of the most
used in the country and generates revenues of hundreds of
millions of euros annually.
  
        Greece uses the proceeds from asset sales to reduce its
public debt, the highest in the euro zone.

 (Reporting by Lefteris Papadimas and Angeliki Koutantou)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))