hkskyline
December 20th, 2006, 03:57 AM
Greece signs $1.8 billion deal for west coast highway; could be ready by 2013
19 December 2006
ATHENS, Greece (AP) - The government on Tuesday said it had signed a $1.8 billion agreement with a consortium of Greek and Spanish contractors to build a 237-mile highway along the country's western coast.
"The contract for the Ionian Road was signed today. It will be ratified in January by parliament and construction will begin in May," Environment and Public Works Minister Giorgios Souflias said.
The project is expected to be completed within 72 months after starting, Souflias said, meaning it could be finished sometime in 2013.
The deal was signed after the consortium comprising Greek construction firms GEK Group of Companies SA and Terna SA, together with Spain's Cintra SA and Actividades de Construccion y Servicios SA was named as preferred bidders.
It will build and operate the road, receiving toll fees for 30 years, investing a combined $1.51 billion in the project. The remaining funds will be provided by the European Union and the Greek government.
The highway will connect the new Rio-Antirrio bridge to the northwestern city of Ioannina, linking with the Egnatia motorway that will span northern Greece as far as the border with Turkey.
19 December 2006
ATHENS, Greece (AP) - The government on Tuesday said it had signed a $1.8 billion agreement with a consortium of Greek and Spanish contractors to build a 237-mile highway along the country's western coast.
"The contract for the Ionian Road was signed today. It will be ratified in January by parliament and construction will begin in May," Environment and Public Works Minister Giorgios Souflias said.
The project is expected to be completed within 72 months after starting, Souflias said, meaning it could be finished sometime in 2013.
The deal was signed after the consortium comprising Greek construction firms GEK Group of Companies SA and Terna SA, together with Spain's Cintra SA and Actividades de Construccion y Servicios SA was named as preferred bidders.
It will build and operate the road, receiving toll fees for 30 years, investing a combined $1.51 billion in the project. The remaining funds will be provided by the European Union and the Greek government.
The highway will connect the new Rio-Antirrio bridge to the northwestern city of Ioannina, linking with the Egnatia motorway that will span northern Greece as far as the border with Turkey.