This project was submitted in the following language: English (en).

Project description

Design, Construction and Financing of the westward extension of Thessaloniki Metro, 4.4 km long, from new railway station to Evosmos and Kordelio with 4 new stations.

The proposed investment project involves the design, the construction and the financing of the west extension of Thessaloniki Metro, 4,4 km long, from new railway station to Evosmos and Kordelio with 4 new stations (Ampelokipoi, Menemeni, Evosmos, Kordelio). The Designs for the extension are in preliminary stage. Multiple scenarios are being examined including operation, maintenance and exploitation.

Country, Region

Greece [Κεντρική Μακεδονία (Kentriki Makedonia)]

Start date

December 2018

Estimated project cost

EUR 440 million

Sector

Urban Mobility Projects

Asset ownership

Public

Project type

Greenfield

Project status

Structuring

Revenue type

availability payments+State Financial Contribution

Economic rationale / Business Model

Upon commissioning of the Extension, the Metro System will upgrade transport services in the densely populated Municipalities of the city of Thessaloniki contributing to the reduction in the daily number of circulating private vehicles by approximately 15,000, since it is anticipated that the subject extension will serve over 60,000 passengers on a daily basis.
More precisely, the investment project: advances the continuous integration of transport infrastructure and transport policy development, promotes European Infrastructure Standards, optimizes accessibility facilities, strengthens Interconnectivity and Regional Integration, addresses the functioning city including peri-urban zones, contributes at ensuring full cooperation on infrastructure interoperability, contributes catching up delayed reform, restructuring and modernization of the transport sector, making clear the interconnectivity with stations and airports of the TEN-T (last mile connections), should involve all relevant actors, notably Member State authorities, regional and local authorities, the industry and the business community.

Financing details

Financing source: PPP

The project cost breaks down: CW: €277,2m (60%), E/M systems: €114,4m (27%), Rolling stock: €48,4m (13%). The project duration is estimated at 5 years.
The proposed business model is that of a PPP. During the operational phase, the project revenues will come from ticket sales, advertising, parking fees from transfer stations, other commercial activities, as well as availability payments by the state.

The promoter has received / applied for EU / EIB financing support related to this project.

Existing or potential bottlenecks for the realisation of the project / Potential risks

The pending introduction to the Greek Parliament of legislation regarding public works and permitting as well as of legislation that integrates 2014 EU Directives 23, 24 & 25, regarding public procurement contracts, will lead to the resolution of potential risks and / or bottlenecks relating to the process leading up to the contracting stage and to the monitoring of the project for the whole period of construction and operation.

Publication: 30/05/2016 | Last update: 22/02/2017

The Commission gives no warranty and makes no representation, whether expressed or implied, that the Project Information is error free. The Project Information is provided without any guarantees, conditions or warranties as to its accuracy.