By F. Zois
[email protected]
A mostly expected approval by the Court of Audit, which reviews major state contracts, of a proposed 20-year extension of the current concession for the Eleftherios Venizelos Athens International Airport (AIA) means the process will continue unhindered.
An improved offer by the consortium that holds the concession to Greece's privatization agency (HRADF) foresees a 600-million-euro payment, including VAT.
The AIA, an international public-private partnership, is owned by the Greek state (55 percent), the Canadian investment fund PSP investments (40 percent) and the Athens-based Copelouzos Group (5 percent).
In terms of the closely watched privatization program, a net sum of 483.87 million euros will flow into state coffers from the extension, expected in two installments, with the first in December 2017.
HRADF commissioned two independent evaluations of the offer for the concession extension, as well as getting a positive recommendation by a council of experts.
The concession, if the process continues without a hitch, would extend to 2046.
