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PPP contract signed for the Attika II school buildings project

09.05.2014 - 00:00

The PPP contract was signed today for the design, construction, financing and facility management of 10 school buildings in Attica. Building Infrastructure SA (former School Buildings Organization SA) is contracting authority and J&P Avax is the contractor.

The contractor will finance, through equity and debt, and construct all school facilities within 2 years and will remain responsible for the maintenance and technical management of the facilities. The contractor will make all additional investments needed, so that all facilities remain in excellent condition throughout the duration of the contract and after its expiry.

The project is financed with a total of 52 mil Euros, by the European Investment Bank, the National Bank of Greece (through the JESSICA fund), Alpha Bank and the contractor.

This PPP deal follows the equivalent one signed on April 11th for the design, construction, financing and facility management of 14 schools also in Attica, with contractors ATESE - Domiki Kritis.

These two projects, with total funding of over 110 mil euros, are the first PPP projects in the European Union jointly funded by the European Investment Bank and the JESSICA fund.