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3 PPP contracts signed within the first half of 2014 - Telematics system PPP for Athens Urban Transportation

30.06.2014 - 00:00

The PPP contract was signed today for telematics system PPP by the Athens Urban Transport Organization and the Special Purpose Vehicle "Advanced Transport Telematics", founded by the private partner Intrasoft International S.A. - Intrakat.

The project includes the installation of equipment in 1,750 buses and 250 trolleybuses to monitor the transportation services in real time and to provide commuters with travel information through 1,000 "smart" stops all over Athens. There will also be interactive public information system for all lines of travel over the internet.

The contract has a total tenor of 12 years and construction and installation will be concluded within 18 months. The contractor will be repaid during the operation of the project on the basis of a detailed payment mechanism that will constantly check the proper operation of the project.

The total contract value is approximately EUR 27 million with an additional EUR 5.5 million EU funding. This project introduced a framework for blending EU funds with private funds in availability-based PPP projects in Greece, while at the same time it is the first ICT PPP project to have been procured in Greece. National Bank of Greece is financing the project with funds from the JESSICA initiative, as well as its own funds.

The telematics system PPP is the third PPP contract signed within the first half of 2014, adding up to a total of EUR 130 million in investments.