Hochtief PPP Solutions, together with partners, has been named preferred bidder by the Greek Ministry of Public Works for the Maliakos-Kleidi toll motorway project. Hochtief holds a 35% stake in the concession company, Aegean Motorway Group, and is leader of the consortium. The other partners are Vinci Concessions (13.75%) and the Greek companies Elliniki Technodomiki TEB, J&P-Avax, Aegek and Athena. Visit www.hochtief.com and www.vinci.comThe project entails planning, financing, building, operating and maintaining the toll road. The construction measures, in which Hochtief Construction as consortium leader has a stake of about 40%, comprise the building of a new 25 km section of the motorway, including 26 bridges and approx. 2 x 11 km of tunnels. The consortium will also upgrade and repair a further 205 kilometres of the existing toll route between the Maliakos Gulf and Thessaloniki. The concession has a duration of 30 years. Construction, which will last four and a half years, will cost EUR720 million (2005 price). The contract is expected to be signed by year end and work will commence immediately after.The motorway is a 230 km-long section of the most important Greek trunk road, between Athens and Thessaloniki, and is a project within the EU's Trans-European Network (TEN). The investment volume will come partly from EU-funded start-up financing, while over two-thirds of the total will be raised in the form of long-term bank loans and equity contributions from the partners. The loans and equity contributions will be recouped from toll charges and service station concessions. 37/06.