The Growthfund (Υπερταμείο) has officially handed over the keys to Greece’s longest highway, Egnatia Odos and its three major vertical axes to “NEA EGNATIA ODOS PARACHORISI S.A.” (led by GEK TERNA and EGIS PROJECTS) for the next 35 years.
This landmark deal includes an immediate payment of €1.275 billion (approximately $1.50 billion) to the Greek state, marking a massive win for the national economy and public debt reduction.
What this means for drivers and the region
The project covers over 1,000 km of road. The goal is simple: transform a “graying” infrastructure into a world-class, safe, and modern network.
Over €1.8 billion will be spent on heavy maintenance (asphalt, bridges, tunnels, and safety barriers) over the life of the contract.
Within the first five years, €420 million will be pumped into immediate upgrades. This includes turning the Chalastra – Evzonoi section into a full-scale closed motorway. Drivers can look forward to 16 new Service Stations (SEA) and 12 modern rest areas along the route.
The Greek government says that this isn’t just about privatization—it’s about progress.
“The high price paid boosts public revenue, while simultaneously ensuring an extensive investment program. Egnatia Odos is being upgraded into a modern, safe axis capable of supporting transport, trade, and the development prospects of Northern Greece,” said Kyriakos Pierrakakis, Minister of National Economy & Finance.
Christos Dimas, Minister of Infrastructure & Transport, added: “The motorway enters a long period of systematic investment. These upgrades will fundamentally improve road safety and cross-border connectivity… adapting the highway to modern standards.”
Egantia Odos: An engineering marvel
Egnatia Odos is much more than just a road; it is a $670$ km engineering marvel that serves as the “horizontal” backbone of Northern Greece.
Named after the ancient Roman Via Egnatia—which once connected Rome to Constantinople—the modern highway follows a similar path, stretching from the western port of Igoumenitsa to the Turkish border at Kipoi.
Completed in 2009, it is widely considered the most expensive and technically challenging infrastructure project in Greek history. Because it traverses the rugged Pindos and Vermio mountain ranges, engineers had to build 1,650 bridges and 76 tunnels (totaling nearly 3$100$ km of underground roadway).