ATHENS, Sept 12 (Askume) – Greece has signed a 3.3 billion euro ($3.64 billion) lease deal for Athens toll highways with GEK Terna (HRMR.AT) , two people familiar with the matter told Askume on Thursday.
The deal is crucial for Greece to meet its fiscal target of generating 5.8 billion euros in revenue this year from privatisations and bank stake sales.
The deal was signed on Thursday morning, with the aim to raise the money before the end of the year, one of the sources said.
Last year, GEK Terna was named the preferred bidder in a tender for a 25-year concession on the 70-kilometre (44-mile) Attica highway.
The plan calls for the state to collect 7.5% of total revenue from tolls each year. The Attica Highway is one of the most heavily used highways in the country, generating hundreds of millions of euros in revenue each year.
Greece has used the proceeds from the asset sales to reduce its public debt, which is the highest in the euro zone.
