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Commission awards 252 million euros of regional policy funds for Peloponnese highway project

14/06/2012

On Wednesday, 13 June, The European Commission approved the investment of 252 million euros from the structural funds for the completion of the Corinth-Kalamata-Sparta highway with the aim of the road being completed by the end of next year. The construction of the highway is a public-private partnership that began in 2008. It will create 6000 new jobs during the construction phase.

Commenting on the decision, Commissioner for Regional Policy Johannes Hahn said: “This new motorway concession in Greece is a good example of how structural funds can stimulate public-private investment and make it happen. It will connect the Peloponnese region to the rest of Greece and the EU, providing new opportunities for growth. It shows as well that our priority projects are really gathering speed.”

This is the second highway project in Greece that has received approval for major funding from the EU. Earlier this month, the Commission approved 180,9 million euros for the construction of a major trunk road to connect Aktio with Amvrakias. The two highway schemes are part of 181 priority projects presented by the Commission in November 2011 with the aim of speeding up the Greek economy’s return to growth.

For more information on the decision, see the press release.

A major project is one whose total costs are above €50 million and thus subject to a specific decision by the European Commission, contrary to the other EU co financed projects which are approved at national or regional level. More information on major projects.