European Commissioner for Regional Policy Johannes Hahn

European Commissioner for Regional Policy Johannes Hahn has approved European Union (EU) investments worth €2.97bn to build four major motorways in Greece.

These investments go towards the total cost of €4.6bn on the vital Greek infrastructure projects, connecting its regions with fast and safe motorways.

The EU-backed motorway projects are 196km section of Ionian motorway, 2,471km stretch between Maliakos and Kleidi, 120km-long section of the Elefsina to Corinth to Patra motorway and 78.5km-long section of Central Greece motorway.

"I am pleased to approve these vital projects for the country."

European Commission and Greek authorities have stated that these motorways are ‘priority projects’ investments that will help create jobs and develop the country.

More than 6,000 jobs will be generated during construction of the projects, which is expected to be completed by the end of 2015. Around 1,700 staff will then be employed in managing them.

The commission also noted that the financial support granted by Greece is in line with EU state aid guidelines.

Commissioner for regional policy Hahn said: "These projects and their abrupt interruption were visible casualties of the crisis in Greece.

"Their resumption and the fact that the European Commission and several European companies are again prepared to invest in them, is a sign of growing confidence in Greece’s recovery.

"Following the positive vote in the Greek Parliament, I am pleased to approve these vital projects for the country, which will do a great deal to stimulate development."

The proposed motorway projects are part of the Trans European Network for Transport, an essential network for connecting the continent and for the smooth functioning of Europe’s single market.

These projects will also improve the competitiveness of the regions they pass through, while creating the right conditions for growth and jobs.

The four investments are funded through the EU ‘Reinforcing Accessibility’ regional policy programme, financed by the European Regional Development Fund and the Cohesion Fund in Greece.

Image: European Commissioner for Regional Policy Johannes Hahn. Photo: courtesy of European Commission.