The modified concession contract for Athens International Airport "El.Venizelos", as of yesterday, is in the Greek Parliament for its ratification. According to the contract, the concession period will be extended by 20 more years with the new expiry date being June 11, 2046. The ratification of the contract is expected to be completed by the end of the week.
The modified concession contact was first signed on January 24, 2019 between the Greek State, HRADF and the Airport company, putting an end to the complains that had been arisen lately from the concessionaires as one of the clauses of the contract stated that ,from January 1, 2019, the concessionaire would be charged with 330,000 euros for each day of delay of the contract's activation.
The price for the contract's extension has been secured since last summer at 1.15bn euros while there will be multiple benefits for the Greek State. In addition to the payment of the huge sum for the concession's extension, the Airport company will be still paying the annual fee to the Greek State regarding the allowances already provided for in the agreement. It is estimated that the concession's extension will bring, cumulative tax, social and other direct or indirect benefits to the Greek economy.