ELLAKTOR informs investors that EPADYM SA (Private Partner), a special purpose vehicle, shareholders in which are the subsidiaries AKTOR Concessions SA and HELECTOR SA, signed yesterday the Partnership Agreement and the relevant Financing Agreements in relation to the project “Design, Financing, Construction, Maintenance and Operation of Infrastructure of the Integrated Waste Management System of the Region of Western Macedonia, based on a PPP arrangement”.    DIADYMA SA will be the Contracting Authority of the Project. The total investment amounts to approximately 48 million euro.  The Project will be financed by:

•     the European Investment Bank, with approximately €13 million;

•     the Western Macedonia Urban Development Fund (Jessica), with approximately €13 million, assisting the absorption of NSRF funds which would otherwise remain unused; 

•     the National Bank of Greece, with €5.6 million, being the VAT corresponding to the construction phase of the Project;

•     AKTOR CONCESSIONS SA and HELECTOR SA, with €17 million, using own funds.

This is a pilot project at European level, as it complies with the strictest requirements of EU environmental law, making the Region of Western Macedonia a pioneer in Waste Management.  It is noted that the Project received an international award from World Finance magazine, while it is the first integrated waste management project in Greece.

The Project involves the financing, insurance, construction and operation of the following infrastructures:

•     Waste treatment plant with the annual capacity of 120 000 tons;

•     Residue landfill;

•     10 Waste Transfer Stations (WTS), 9 of which already exist, and 1 (the Kozani WTS) is part of the new infrastructure under the Project;

•     An Environmental Information-Education Centre, with the purpose of providing information to the public about the operation of the Integrated Waste Management System, and raising awareness about waste management and sustainable development.

Project implementation will achieve a particularly high recovery rate of recyclables (35% by weight of the quantity of recyclables entering the waste treatment plant), and a particularly high diversion rate of biodegradable waste (80% by weight in the wet state of biodegradable waste entering the waste treatment plant), maximising environmental performance.   

The Project is expected to help improve the development prospects of the Western Macedonia Region, considering that at least 200 employees are expected to be immediately employed at the Waste Management System Plants (construction period: 2 years), while more than 150 permanent job positions are expected to be created over the operation period of the project for a 25-year horizon.