Hellenic Republic Asset Development Fund

GEK Terna on Friday completed the one-off payment of 3.27 billion euros after being selected as the preferred investor in the Hellenic Republic Asset Development Fund's tender for the 25-year concession of the Attiki Odos highway.

The Greek state will turn over the management and use of Attiki Odos highway to the new concessionaire, Nea Attiki Odos SA, on October 6, the ministries of National Economy & Economics and Infrastructure & Transport said on Monday.

A 40-year concession contract to develop Pylos Marina worth at least 1.5 million euros was signed on Tuesday by the state and the Hellenic Republic Asset Development Fund (TAIPED) on one side, and Pylos Marina SA, the preferred bidder, on the other.

The processes for developing a new framework for the cruise industry are nearing completion, and the government is likely to make appropriate statements shortly. The framework will seek to address the problem plaguing certain destinations, most notably Santorini, stemming from the burden imposed by cruise guests on the islands, making it unbearable for inhabitants and other visitors.

The return of Kyriakos Mitsotakis to the Maximou , after the short vacation of the government team, signals the start of intense meetings in preparation for the Thessaloniki International Fair (TIF), which is traditionally the political milestone of the year.

Almost €2 billion will be invested by 2028 in expanding Greek airports' capacity in view of the rapidly rising number of visitors.

At the same time, the Hellenic Republic Asset Development Fund (TAIPED) is preparing to sell off some 20 small regional airports to private operators.

The planned sale of indebted and idle state mining firm Larco has been called off, the Ministry of Finance announced Monday.

Market analysts had long expected the move. It was made inevitable Friday, when GEK Terna and AD Holdings, the consortium chosen to buy Larco's assets and the accompanying mining rights, informed the ministries concerned of its decision to pull out of the deal.

The path is now clear for the new concession contract for Attiki Odos, following approval from the Court of Audit. The High Court’s approval was granted swiftly, aligning with the goal of the Hellenic Republic Asset Development Fund (HRADF) to financially close the concession contract, likely by the end of the year. Note that the related request was submitted on July 5.

Sani Development and Tourism Company SA, the highest bidder for the development of the Sani-Kassandra property on the Halkidiki peninsula, signed the agreement for the development of the area assessed at 8.6 million euros, the Hellenic Republic Asset Development Fund (TAIPED), a member company of Growthfund, the National Fund of Greece, said on Tuesday.

A tendering process for the restoration of extreme-weather damage at the port of Volos in Thessaly is expected to begin by the middle of June, Hellenic Republic Asset Development Fund (TAIPED) officials said on Tuesday.