Greece plans to award projects worth about 650 million euros ($879.5 million) next year to extend the Athens ring road and build two undersea road tunnels in other parts of the country, Magriotis said.
The government will also seek investors to develop regional airports. "During recession one can't immediately expect big results," Magriotis said. "But these investments will help us get out of recession and contribute greatly to growth". Greece unveiled last week an ambitious 50-billion-euro privatisation plan to help pay down debt. This included plans to install more toll stations at Egnatia, a new major motorway in Northern Greece, as well as the possible appointment of private operators to manage the road. "Total revenues from Egnatia will exceed 100 million euros per year," he said. The government is also renegotiating contracts for all toll roads under construction to address the concerns of austerity-hit road users who refuse to pay tolls. Magriotis said this added to the problems of Greece's 8.7 billion euro road expansion project, already facing legal wrangles and funding issues. "If the roads are not built, there will be no highways, no employment, no growth," Magriotis said. "Nobody will benefit if the contracts are cancelled".
source: Reuters
