AVAX S.A.

Announcement

&P-AVAX SA signed on 16.01.2008 with the Greek government the contract titled Construction of Aghia Varvara Apomarmas Road, KM 22+170 to KM 29+990 worth euros 35.6 million (excl. VAT), which is a section of the Northern Highway running East-to-West on the Island of Crete.
The project pertains to the full construction of the road section between Aghia Varvara and Apomarmas, which connects the capital city of Heraklion to Kastelli through Aghia Varvara.
Works include the full construction of a double-lane, 7.82 km-long road section with a width of 12.5 metres, the 505-metre long Aghia Varvara tunnel, four bridges with a total span of 912 metres, works on diverting creeks and constructing under- & overpasses to the highway, country roads totaling 2 kilometres, as well as the construction of a junction with the Avgeniki - Aghia Varvara road section. The project includes all earth-moving, paving, sign-posting and lighting works for the road, tunnels, bridges and over- & under-passes comprising the highway section to be constructed.
The project carries a 34-month deadline.