GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool

President and CEO of Gek Terna George Peristeris said on Tuesday April 23 that the company is still considering leveraging its concessions portfolio, GEK Terna Concessions, as a financial tool, according to OT.gr.

The CEO made the statement on the sidelines of the inauguration of two portions of the major E65 highway which run north-south through Greece. Gek Terna was the lead company in the construction consortium of the projects.

In February, during an extraordinary meeting of Shareholders, the CEO first announced the company’s intention to find the best way to use the portfolio as a financial tool. But it seems that the jury is still out as the CEO said on Tuesday, “there is still no final decision as to how the portfolio will be utilized.”

In a separate but related topic on Gek Terna Concessions, Peristeris said it is still waiting for Egnatia Odos, Attiki Odos and the Northern Road Axis of Crete (BOAK) to be turned over to the company to commence works.

The delivery of the two sections of the E65 highway which connect the central Greece cities of Kalambaka and Lamia was a high-profile event which included the Prime Minister of Greece himself.

The next 46-kilometer stretch up for construction will link Kalambaka to the north with the Egnatia tollway that runs across the breadth of northern Greece, from the land border of Turkey to the port of Igoumenitsa in the north Ionian Sea.

The projects are expected to significantly improve connectivity within Greece.

Gek Terna is one of Greece’s leading companies in the construction, concessions, mining and real estate sectors, and, on account of its success with concessions, created a subsidiary called Gek Terna Concessions.

The subsidiary carries out all of the group’s major projects which are characterized by multi-annual projects involving financing, construction and operation.

Source: tovima.com