J&P-AVAX announces the concession contract for the design, financing, construction and operation of the "Maliakos-Kleidi" section of Greece's main North-South Highway was signed on 28.06.2007 between the Greek State and Aegean Motorway Concession SA, comprising "HOCΗTIEF PPP SOLUTIONS GmbΗ" (35%), "ELLINIKI TECHNODOMIKI TEB SA" (20%), "J&P-AVAX SA" (16.25%), "VINCI SA" (13.75%), "AEGEK SA" (10%) and "ATHENA SA" (5%).
The contract is expected to be ratified within 4 months by the Greek parliament, and related works will commence thereafter. The construction period is projected to last for 54 months, while the concession period is 30 years and the total cost of the project estimated at euro 1.15 billion. The motorway section to be operated under concession is around 231 kilometres long.
The joint venture responsible for delivering all related construction works comprises "HOCΗTIEF CONSTRUCTION AG", "Aktor SA", "J&P-AVAX SA", "VINCI CONSTRUCTION GRAND PROJECTS", "AEGEK SA" and "Athena SA".