The Hellenic Republic Asset Development Fund (HRADF) has announced the privatization of the Rio-Antirrio connection in Athens, Greece.

PAVLOS N. PETTAS S.A. was announced as the first eligible investor in the development of the former construction site of the Rio-Antirrio connection project with a Financial Offer amounting to EUR2,885,000 (US$3,119,002). This Financial Proposal will be paid in a single payment after the completion of the pre-contractual audit of the tendering procedure by the Court of Auditors. The property is across 165 ac in the Municipal Unit of Antirrio of the Municipality of Nafpaktia in the Prefecture of Aitoloakarnania, Region of Western Greece. 

The HRADF has also unsealed the Financial Proposals of 5 eligible investors and approved their rating for the sale of the property. Attica Bank Properties Property Management Company S.A. acted on behalf of HRADF as a Property Development Consultant and Machas and Partners Law Firm acted as a Legal Advisor.