Ferrovial - Annual Report 2010

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Toll roads

Greece

Ionian Roads highway

  • Two separate sections of toll road:
  • Pathe Section: 172.5 km already in operation + 11.0 km to be built by the State. The section starts in Athens and runs north to Lamía.
  • Ionian Road: 159 km of new construction by the Consortium, plus 10.5 km already transferred, plus 26.9 km to be built by the State. The toll road will run along the coast of the Ionian Sea from Patras to Ioannina in the north.
  • Toll rates are inflation-indexed.
  • Government subsidy (European funds): 360 million euro.
  • The Pathe section is a corridor with heavy traffic, especially on the existing section closest to Athens (ADT approx. 80,000 vehicles).
  • Operation of the existing section will provide substantial revenue during the construction period, thus reducing the need for financing.
  • Revenue-sharing with the government if certain traffic or IRR thresholds are exceeded.
  • Cintra nominated the CEO of the concessionaire.
  • Concession commencement date: December 19, 2007.

Central Greece toll road

  • The toll road is divided into two sections:
  • The first, known as Central Greece, is 174 km long and has been built entirely by the consortium.
  • The second, running 57 km adjacent to the foregoing, has been or will be built by the Greek government and subsequently transferred to the concessionaire.
  • Toll rates are inflation indexed.
  • Government subsidy (European funds):518 million euro at the construction phase, as well as 1.5 billion euro operational subsidy.
  • Cintra nominated the CEO of the concessionaire.
  • Concession commencement date: March 31, 2008.

Ionian Roads figures

379.5
km
€1,100.0
billion investment managed
33.34%
stake
2037
end of concession period

Central Greece figures

231
km
€1,450.0
Mn. Investment managed
33.34%
stake
2038
end of concession period

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This is an electronic version of the 2010 Annual Report prepared by Ferrovial S.A. for its stakeholders, which aims to be complete and accurate. The contents of this version can be checked by referring to the print version. A copy of the print version in PDF format is available to download on this web page