Print Magazine
Brussels Morning Newspaper
Monday, June 5, 2023
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home EU Institutions Commission

Commission approves Greece’s funding of Trans-European road network

Nikola Kiš by Nikola Kiš
19 January 2021
in Commission
Commission approves Greece’s funding of Trans-European road network

Aerial drone bird's eye view photo of latest technology cross shape multi level road highway passing through city center

Share on FacebookShare on Twitter

Brussels (Brussels Morning) The European Commission has approved Greek public funding of a section of the Central Greece Motorway, according to a press release issued Monday that also notes this should help complete the Trans-European road network.

It approved the planned investment of 442 million euro for construction of the stretch of the E65 as well as support of about 38 million euro for operation and maintenance of the stretch if toll revenues prove insufficient.

Commissioner Vestager’s comments

“Construction of the North section of the Central Greece motorway will complete the Greek part of the E65, contributing to the development of the areas concerned”, European Commissioner for Competition, Margrethe Vestager, stated. The EC’s decision will enable Greece to support the infrastructure project which is part of the EU motorway network, she added.

Greece presented the EC with its plan to finance the construction of the 70.5 kilometre stretch in May 2019. The Kentriki Odos concession company, which holds concessions on South and Middle sections of the Central Greece motorway, will use the funding to construct the North section. Athens said it would support operation and maintenance of the new section with an estimated 38 million euro in the event of a shortfall in toll revenues. 

The EC endorsed the proposals as being in line with EU regulations, citing the fact that the move will help develop areas served by the E65 motorway. The project is expected to generate economic activity and jobs in the area, improve inter-operability and accessibility of the motorway network in addition to enhancing road safety.

The Commission also stressed that the positive impact of Greece’s move will ensure that there are no significant negative effects on competition, while adding that the proposed financial support is both necessary and proportionate to the scale of the project. 

Although the Kentriki Odos company will be provided with the difference between toll revenues and operational and maintenance costs, the EC said any excess revenues will be returned to the state.

Tags: CommissionCommission-FeatureGreece
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • Health & Fitness
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • Brussels Bubble
    • Parliament
    • Commission
    • Council
  • Wider Europe
    • Member States
  • World
  • Business & Society
  • Europe With Transparency
  • Culture & Society
  • Policy Talks
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • Ambassador’s Corner
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT