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

Project description

Design, construction, financing, operation, maintenance and exploitation of the south extension of Ymittos Ring Road from connection with Attiki Odos to Vouliagmenis Avenue via an urban tunnel.

The project includes: a) construction of an urban road tunnel connecting existing Ymittos Ring Road (YRR) with Vouliagmenis Avenue, with a total length of 3 km, b) upgrading traffic capacity of existing YRR in the section from Katechaki interchange to the tunnel entrance, c) upgrading traffic capacity of Vouliagmenis Avenue from tunnel exit to Alimou interchange, d) operation, maintenance and exploitation of the project for the period contracted.

Country, Region

Greece [Aττική (Attiki)]

Start date

June 2018

Estimated project cost

EUR 450 million

Sector

Urban Mobility Projects

Asset ownership

Public

Project type

Greenfield

Project status

Structuring

Revenue type

hybrid (tolls+potential SFC)

Economic rationale / Business Model

This project has been included in the Athens Master Plan (Law 4277/2014) as an essential road axis of metropolitan importance and high priority in the public road network. The main goals are:
-completion of YRR without any further environmental burden of the sensitive protection zone of Ymittos mountain,
-high compatibility of the project with the urban design targets of the Athens Master Plan,
-deflection of heavy commuting and commercial traffic from densely populated areas (such as Ilioupolis and Argiroupolis municipalities),
-reduction of travel time from the southern suburbs to the northern ones and to the airport,
-decompression of traffic passing through the city centre,
-decongestion of Poseidonos Avenue (seaside).

Financing details

Financing source: PPP

The project duration is estimated at 48 months.
The proposed business model is that of a PPP. The construction and operation of the project will be undertaken by a Special Purpose Vehicle (SPV). Sources of revenues include road tolls and state financial contribution.

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.

Project additional information

The proposed investment project: is expected to further capitalize the concentrated innovative potential of urban nodes, contributes to reinforcing infrastructural cooperation, optimizes accessibility facilities, addresses the functioning city including peri-urban zones, should involve all relevant actors, notably Member State authorities, regional and local authorities, industry and business world, promotes European Infrastructure standards.

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

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