The Greek Court of Auditors has approved the award of a concession to construct and operate a new international airport on the island of Crete to Ariadne Airport Group, a consortium comprised of GEK Terna and GMR Infrastructure.
The approval enables the developers to commence construction of the airport, which will replace the existing Heraklion Airport, to commence construction this month. The construction period is estimated to last five years, with a total investment of EUR480 million (US$550 million).
However, the concession contract still awaits ratification by the Greek parliament.
The new airport will be developed on a design, build, finance, operation and maintenance (DBFOM) basis, with a concession period of 35 years. It will feature a 3.2km runway.
Country updates
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December 21, 2018
Greek government to tender two port concessions in the new year
The Hellenic Republic Asset Development Fund (HRADF) is reportedly planning to launch tenders for the privatisation of two regional ports, Alexandroupolis and Kavala. It is thought that the authority...
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December 19, 2018
Ferrovial completes US$100 million sale of Greek toll road concessions to GEK Terna
Ferrovial has announced that it has sold its stake in two Greek toll road concessions, Central Greece and Ionian Roads, to GEK Terna for EUR85 million (US$96.6 million). The buyer, Greece&r...
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December 18, 2018
Two construction firms acquire 10% stake in Attiki Odos tollway in Athens
Piraeus Bank has sold a 9.8% stake in the Attiki Odos tollway concession to J&P Avax and Ellaktor. The concession concerns the operation of a tolled ring-road around Athens, the Greek capital. The...
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December 13, 2018
Sole bidder for Greek marina concession asked to improve financial offer
The Hellenic Republic Asset Development Fund (HRADF) has requested that the sole bidder for the Chios Marina concession submit an improved financial offer. The lone bid for the concession, which cove...
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December 10, 2018
Greece to tender airports privatization
Greece is planning to tender the development and operation of 23 regional airports, according to a decision by the country’s Minister of Infrastructure and Transport published in the government...
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