From the beginning of the financial crisis in Greece, traffic on the highways of the country has been reduced by 40 percent, the main reasons being that tolls and gas are very expensive, and also because of ongoing road projects.
Concerning Olympia Odos, the highway from Athens to the Peloponnese or the Elefsina-Korinthos-Patras-Pyrgos-Tsakona Motorway, the falling toll revenue affected the company negatively. It reported €57.7 million losses in 2012 from €30.2 in 2011. The turnover is limited to €58.6 million, compared to €68.2 million in 2011.
The new highway’s construction is expected to be completed by October 2015, according to the newspaper Kathimerini.
OLYMPIA ODOS S.A. is the consortium selected by the Greek Ministry of Public Works to design, finance, construct, operate and maintain the Olympia Odos motorway for a period of 30 years, having started since 2008. The shareholders of the consortium are all extremely experienced in designing and implementing large scale challenging projects in Greece and around the world, according to the company’s website.
The following construction groups participate in the Olympia Odos consortium: Vinci Concessions, Hochitef PPP Solutions GmbH, J&P-AVAX Group, AKTOR CONCESSIONS, GEK TERNA Group of Companies, ATHENA S.A.
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