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Athens Macedonian News Agency: News in English, 15-12-14
CONTENTS
[01] Privatization of 14 regional Greek airports concluded
[01] Privatization of 14 regional Greek airports concluded
The Greek state's privatisation agency (HRADF) on Monday signed a
contract with a constorium headed by Germany's Fraport AG Ltd. to
operate 14 regional airports.
The contract concerns the airports of Thessaloniki, Aktio, Kavala, Corfu,
Chania, Cephalonia, Zakynthos, Rhodes, Kos, Samos, Mytilini, Mykonos,
Santorini and Skiathos.
The contract extends for 40 years and investments related to upgrading
and refurbishing of existing facilities must be completed within 20
months of the start date, while new projects and expansions must be
completed in 48 months.
According to the company's announcement, "...the transaction closing
is expected during the autumn of 2016, at which time full payment of
the €1.234 billion upfront concession fee will be made by the Fraport
consortium in tandem with the takeover of operations at the 14 airports.
Fraport will have a clear majority share in the concession companies,
while Copelouzos will hold the remaining stake. Actual ownership of the
airports will still be retained by the Greek government throughout the
concession term. Along with the upfront concession payment, an annual
fixed concession fee of initially €22.9 million will be paid. In
addition, the Fraport-Copelouzos consortium is required to invest a
total of €330 million in airport infrastructure until 2020, followed
by maintenance and traffic-driven capacity investments during subsequent
years of the project."
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