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Lambadarios and WFW Advise on Piraeus Bank’s Financing of Thessaloniki Eastern Ring Road

Lambadarios and WFW Advise on Piraeus Bank’s Financing of Thessaloniki Eastern Ring Road

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The Lambadarios Law Firm and Watson Farley & Williams have advised lead arranger Piraeus Bank on the EUR 425 million project financing for the Thessaloniki Eastern Ring Road to be developed by Avax and Mytilineos following their PPP agreement with the Greek Ministry of Infrastructure and Transport.

"The project will involve the construction of an elevated expressway (flyover), approximately 9.5 kilometers long, four kilometers of which on a continuous bridge, with four lanes, two plus an emergency lane in each direction," Lambadarios informed.

"In total, the flyover will include 13 kilometers of roadway, nine over- and underpass junctions, four kilometers of continuous flyover bridge, eight new bridges, and three new tunnels," the firm reported. "This new state-of-the-art highway will be constructed within 48 months, resolving for good the city’s serious traffic problem."

The Lambadarios team included Partners Yannis Kourniotis, Konstantina Siozou, Prokopis Dimitriadis, and Constantinos Lambadarios and Senior Associate Thodoris Papadatos.

The WFW team included Athens-based Of Counsel Stamatis Kotsiras and lawyers from the firm's London office.

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