Date: 22nd December 2022
When it rains it pours! Congratulations to Avax and Mytilineos for signing with the Ministry of Infrastructure and Transport the first road PPP agreement for the Eastern Ring Road of Thessaloniki (Flyover), as well as Piraeus Bank for providing €425m project financing.
The project will involve the construction of an Elevated Expressway (Flyover), approximately 9.5 km long, four km of which on a continuous bridge, with four lanes, two plus an emergency lane in each direction.
In total, the Flyover will include 13 km of roadway, 9 over/under pass junctions, 4 km of continuous Flyover bridge, 8 new bridges, and 3 new tunnels.
This new state-of-the-art highway will be constructed within 48 months, resolving for good the city’s serious traffic problem.
The Lambadarios Law Firm team representing Piraeus Bank as lead arrangers was led by our head of project finance Yannis Kourniotis along with Dina Siozou, Prokopis Dimitriadis, Constantinos Lambadarios and our senior associate team was led by Thodoris Papadatos.
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