EC approves Greek public financing of a motorway
Brussels, Belgium – The European Commission has decided 2008-04-16 not to raise objections to certain measures adopted by the Greek authorities in support of road infrastructure. The Commission considers that grants for the construction and upgrading of this road infrastructure in Greece do not constitute State aid.
Within the framework of three concession agreements, the Greek authorities will grant €550 million to Apion Kleos Group for the design, construction, financing operation, maintenance and exploitation of the Elefsina – Korinthos – Patras – Pirgos – Tsakona Motorway Project.
The Commission took into account the fact that the project was put out to a tender procedure and that the concession-holder of the infrastructure would not be overcompensated. Consequently, as the measure does not constitute an advantage to the selected concession-holder, it does not constitute State aid within the meaning of Article 87(1) of the EC Treaty.
Additional background information (provided by Infrasite’s Editorial Staff)
EC approves Greek public financing road concessions (2008-01-31)