Extension of the ATHENS METRO to Piraeus
As already announced, ATTIKO METRO S.A. (AM), in cooperation with the European Investment Bank (EIB), the leadership of the Ministry of Infrastructures, Transport and Networks, of the Ministry of Finance and all agencies involved, completed all necessary procedures and, thus, the amount of €250,000,000.00 of the loan agreement intended for the Metro Line 3 Extension to Piraeus was disbursed.
The subject loan agreement is of 30-year duration and foresees a 7-year grace period. The amount that will be disbursed constitutes the first installment of the overall credit approved by the EIB for the project, amounting to €450,000,000.00.
In the months to follow and depending of the progress of the project, AM will schedule the disbursement of the remaining amount of the approved credit, i.e. the amount of €200.000.000, on the basis of the new loan agreement that was signed with the EIB in February 2013.
It is also reminded that the amount of €250,000,000.00, intended for financing the THESSALONIKI METRO Project, had been disbursed in December 2012.
Extension of the THESSALONIKI METRO to Kalamaria
As already announced, in March 2013 the Board of Directors of the EIB, having performed the “due diligence” process based on all necessary details and information it requested and received by AM, approved the relevant AM’s request for the provision of a credit amounting to € 400,000,000.00 for the extension to Thessaloniki Metro to Kalamaria.
The contract for the project award was concluded while, subsequently and depending on the progress of the works, AM will take delivery of the necessary approvals and will proceed to the conclusion of the loan agreement with the EIB, as well as to the disbursement of the necessary funds.
On this occasion, Mr. Christos Tsitouras, Chairman of the BoD and Managing Director of ATTIKO METRO S.A., made the following statements:
“The implementation of the above, as exactly announced and scheduled, proves, on the one hand, the confidence and the satisfaction on the part of the European Investment Bank as regards the project and the know-how of ATTIKO METRO S.A. and, on the other hand, the EIB’s tangible support to the Greek economy, through the disbursement of significant amounts in the middle of this harsh financial crisis, strengthening at the same time the development efforts made by our country”.