On November 21^st 2008 ATTIKO METRO S.A. proceeded to the re-procurement of the project related to Line 3 Metro extension to the western suburbs, terminating in the area of Piraeus (underground tunnel, 7.6 km long, with 6 modern stations: Aghia Varvara, Korydallos, Nikaia, Maniatika, Piraeus, Dimotiko Theatro).

On February 13^th 2009, 6 technical consortia/joint ventures expressed their interest in the construction of the project.

On October 5^th 2011, ATTIKO METRO S.A. proceeded to the unsealing of the Financial Offers for the Project concerning the extension of Metro Line 3 to Piraeus, whose budget reaches the amount of EURO 515 million.

The classification order of the three bidding joint ventures, based on their Financial Offer, is as follows:

JOINT VENTURE	FINANCIAL OFFER
1. J&P – ΑVΑX ΑΕ – GHELLA SPA – ALSTOM TRANSPORT SA	343.96 million €
2. AKTOR ΑΤΕ – ΤΕRΝΑ ΑΕ	349.00 million €
3. FCC CONSTRUCCION S.A. – ALPINE BAU GMBH	349.75 million €

Based on the Tender results mentioned above, J&P – ΑVΑX ΑΕ – GHELLA SPA – ALSTOM TRANSPORT SA is the lowest-bidder of the Tender.

On March 1^st 2012, the relevant contract was signed with the contracting joint venture J&P - AVAX S.A., GHELLA SPA, ALSTROM TRANSPORT S.A for the construction of Line 3 extension from Aghia Marina to Piraeus, 7.6 km long, with 6 modern Metro Stations. Attiko Metro S.A. was represented by Mr. Christos Tsitouras, Chairman of the BoD and Managing Director, while the Construction Joint Venture J&P ΑVAX SA was represented by Mr. Konstantinos Mitzalis, Managing Director.

This Project constitutes a 660,000,000 EURO investment in areas of Piraeus Municipalities and other Municipalities in the wider area (Nikea, Korydallos, Aghia Varvara), which are currently faced with acute traffic problems and sub-standard services, in terms of Public Transport Modes.

The Metro Extension to Piraeus will serve approximately 132,000 passengers on a daily basis, while the distance between the Port and the International Airport will be covered by the Metro in just 45 minutes in total. Additionally, once the Metro becomes operational, the number of vehicles will be reduced by approximately 23,000 on a daily basis, leading to a respective daily reduction in CO₂ by 119 tn.

Especially as regards Piraeus Station, a major Transportation Junction will emerge, connecting the two Metro Lines (Line 1 and Line 3), the Port, the Suburban Railway and the Tramway, which is also foreseen to pass through the same area, providing, thus, inter-modal transfers.

The Metro tunnel will be constructed using a Tunnel Boring Machine (TBM) in order to minimize the inevitable disturbance to the functions of the Municipalities; during the construction period (2012-2017) 2,000 persons in total are foreseen to be employed in this Project.

Apart from the Line 3 Extension to Piraeus, Attiko Metro S.A will shortly be engaged in the following projects as well, namely:

Extension of the Tramway from Neo Faliro to Piraeus centre, completing, thus, the direct connection of the coastal axis with Piraeus through the Tramway. More specifically, in January 2013 the contract was signed between ATTIKO METRO and THEMELI Company and, at present, the construction of the Tramway extension to Piraeus is in progress.

Conversion of Line 1 (ISAP) section form N.Faliro to Piraeus into an underground structure, with the addition of one new station in the area of Keranis Factory, unifying, in terms of functions and town planning the areas of Piraeus currently served by the surface ISAP Line 1. The designs pertaining to this Project are about to be completed enabling, thus, Attiko Metro S.A. to put it to Tender.

Extension to the Tramway Network to Keratsini - Perama, following an underground alignment at a large part of Keratsini Municipality, running along the alignment of the old Perama tramway. The Advanced Concept Designs regarding this Project are underway.

LINE 3 EXTENSION TO PIRAEUS


Location of the Stations

Aghia Varvara	Eleftheriou Venizelou Av. (Ag. Eleoussa)
Korydallos	Eleftherias Square
Nikaia	El.Venizelou Square
Maniatika	Etolikou & Mavromihali Str.
Piraeus	Port (close to ISAP station)
Dimotiko Theatro	Iroon Polytechniou & Vassileos Georgiou

Tunnel
6,5km of the tunnel of the extension will be constructed using the Tunnel Boring Machine, while the remaining parts at the beginning and at the end of the project will be constructed via the underground excavation method.

Shafts
8 ventilation shafts in total shall be constructed along the new Line and two shafts for the TBM’s entering/exiting.


PROGRESS OF WORKS

May 2013	The works for the PUO network diversions were completed in AGHIA VARVARA Station, while the worksite installations and the pile construction works for the temporary retaining of the Station are in progress; The investigation trenches for the identification of the foundations of the Piraeus Port Authority S.A. (OLP) pedestrian bridge in PIRAEUS Station were completed; The worksite occupation/fencing in Ag. Konstantinou Square at DIMOTIKO THEATRO Station is about to be completed soon along with the relocation of the last kiosks. In addition, the archaeological excavation works are in progress.
April 2013	The works for the drilling of forepoles towards Piraeus at TBM start-up Shaft are in progress; The archaeological excavation works at the south and north-eastern section of the main station, as well as the traffic regulations for the diversion of OTE network at Grevenon Street in NIKEA Station have been completed; The diversion of the sewage network at P. Mavromichali Street in MANIATIKA Station has been completed; The works for the diversion of the stormwater network in AGHIA VARVARA Station are in progress.
March 2013	The works for the construction of temporary retaining piles and the pile cap beam at the TBM start-up shaft have been completed; The works for the dismantling of shop sheds, as well as for the construction of new sidewalks at the eastern and southern part of Eleftherias square at KORYDALLOS Station, have been completed; The works for the diversion of PPC and OTE networks, as well as the traffic arrangements at El. Venizelou street at AGHIA VARVARA Station, have been completed.
February 2013	The first phase of the traffic arrangement has been completed and is in full swing, while the works for the construction of new sidewalks at the perimeter of Eleftherias Square in KORYDALLOS Station area, as well as the diversions of the PUO networks are in progress; The relocation of kiosks in Odyssou Square along with the archaeological investigation works are in progress; The investigation works for the sewage and storm water networks’ routing in Odyssou Square in PIRAEUS Station area are in progress; The archaeological works in KORYDALLOS Station have been completed; no significant archaeological finds have been revealed, while the supplementary archaeological trenches are to commence soon; The PUO network diversions in NIKEA Station area, as well as the traffic arrangement at the southern section of the station along Efessou Street are in progress.
January 2013	Phase A’ of the traffic diversion at KORYDALLOS Station has been completed; Archaeological excavations at the Tunnel Boring Machine (TBM) Startup Shaft have been completed; PUO network relocations at AGHIA VARVARA Station are at a completion phase.
December 2012	Excavation works in the Tunnel Boring Machine (TBM) startup shaft have commenced. Signaling works for the implementation of traffic arrangements at KORYDALLOS Station are in progress.
November 2012	The construction of retaining piles in the TBM startup shaft has been completed and excavation works are in progress. All works related to the dismantling of various items, relocations of kiosks and transplantations have been completed in the six (6) stations of the Project and the archaeological survey, as well as the PUO network diversions, are in progress.
October 2012	The pile driving works at the TBM Start-up Shaft have been completed; The relocation of the Public Utility Organizations networks is in progress at AGHIA VARVARA Station; The archaeological survey is in progress at AGHIA VARVARA, NIKEA, KORYDALLOS and DIMOTIKO THEATRO Stations; The worksite occupation related works are in progress at Odyssos Square (PIRAEUS Station) and Korai Square (DIMOTIKO THEATRO Station).
September 2012	The works for the construction of temporary retaining piles in the TBM access shaft are in progress; The archaeological survey in KORYDALLOS Station area is at an advanced stage; The worksite installation of the Contractor in MANIATIKA Station area has been completed; The works for the relocation of the kiosks located within the construction boundaries of DIMOTIKO THEATRO Station will commence soon.
August 2012	The archaeological excavation in the TBM start up shaft in the area of Aghia Varvara is completed; The dismantling and transplantation works, as well as the execution of investigation trenches for PUO networks in AGHIA VARVARA, NIKEA and KORYDALLOS Stations are at an advanced stage; The work site occupation of the Contractor in DIMOTIKO THEATRO is in progress.
July 2012	The archaeological investigation at the Start-up Shaft of the Tunnel Boring Machine (TBM) in the area of Aghia Varvara is in progress. The worksite occupation in KORYDALLOS and NIKEA Stations is in progress. The Supplementary Boreholes Plan along the Metro Extension to Piraeus has been completed.
June 2012	The worksite occupation in the area of Aghia Varvara has commenced from where the Tunnel Boring Machine will start its journey with direction to Piraeus. The boreholes' program along the extension to Piraeus is at a completion stage.
May 2012	The complementary boreholes campaign along the Metro Extension to Piraeus is in progress.
April 2012	ATTIKO METRO S.A. in cooperation with the Joint Venture J&P Αβαξ S.A. -- Ghella SpA -- Alstom Tranport S.A. is performing all necessary survey works for the construction of the Metro Extension to Piraeus.