Athens Macedonian News Agency: News in English, 13-12-16

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] EU Commissioner Hahn approves Greece's major motorway projects

[01] EU Commissioner Hahn approves Greece's major motorway projects

According to the Commission, these investments, considered to be among the most important infrastructure projects in Greece, will play a decisive role in the country's economic recovery, connecting its regions with fast and safe motorways. The Commission also found that the financial support granted by Greece is in line with EU state aid rules.

The European Commission and the Greek authorities have identified the motorways as "priority projects" investments, key to creating jobs and to the development of the country and its regions. It is expected that more than 6,000 jobs will be created during their construction. The projects should be completed by the end of 2015 and roughly 1,700 people will be employed in managing them.

Commissioner Hahn, who signed the co-financing decisions, following ratification of the projects by the Greek parliament last week, underlined that "these projects and their abrupt interruption were visible casualties of the crisis in Greece. Their resumption and the fact that the European Commission and several European companies are again prepared to invest in them, is a sign of growing confidence in Greece's recovery".

He also added that "the Trans European Network for Transport of which these motorways are a part of (PAThE), is essential for connecting the continent and for the smooth functioning of Europe's single market," noting that "the competitiveness of the regions they pass through will be improved, making them more attractive to investors". He underlined that the investments will create the right conditions for growth and jobs and improve the citizens' quality of life.

The concessioners, Greek construction companies and European companies from several EU member states, have recently signed the recasting of the project. Financing sources, besides the Greek state, include the European Investment Bank (EIB) and about 40 Greek and international banks.

The four investments come under the EU Regional Policy programme "Reinforcing Accessibility", funded through the European Regional Development Fund and the Cohesion Fund in Greece.

The Ionian motorway concession relates to the construction of the 196km-long section Antirio-Ioannina along with the works to upgrade existing sections of the PATHE motorway (namely, the Patra-Athens-Thessaloniki motorway, which is part of the Trans European Transport Network). The motorway will pass through four Greek regions: Epirus, Western Greece, Sterea Ellada and Attiki. The European Regional Development Fund will finance 723.6 million euros and reduction in road accidents is expected to be above 37 pct.

The completion of the Maliakos-Kleidi concession passing through the regions of Thessaly and Central Macedonia, is about the construction of the Evangelismos-Skotina (24,71 km) stretch, along with works to upgrade existing sections (204,70 km) of the PATHE motorway. The Cohesion Fund will finance 699 million euros and reduction in road accidents is expected to be more than 30 pct.

The completion of the Elefsina-Corinth-Patras motorway concession refers to the construction of the Corinth-Patras (120 km) section, including the upgrade of existing sections (81,5 km) of the PATHE motorway. The motorway will pass through the regions of Western Greece, Peloponnese and Attiki. The European Regional Development Fund will finance 977 million euros, with an estimated reduction in road accidents of more than 38 pct.

The completion of the Central Greece motorway concession for the E-65 motorway, relates to the construction of the 78.5 km long section of Xyniada-Trikala. The motorway runs through Thessaly and Sterea Ellada and the Cohesion Fund will finance 570 million euros. The estimated reduction in road accidents is expected to be more than 30 pct.

[File photo, Hahn in Brussels. EPA]

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