2025’s Top-20 Infrastructure Projects to Be Auctioned in Greece

The major projects being auctioned in the country have drawn public attention, and there is significant activity in the construction sector. In several projects that have already entered the bidding process, alliances have formed among major groups. The emerging trend suggests that these alliances change depending on the type, scale, and importance of each tender.

We have seen major groups participating independently in large tenders, competing for a project, and then in the very next tender, the same group forming an alliance to increase its chances. The particularly interesting aspect of major tenders is that they attract the attention of the entire construction market holding a 7th-class certification.

In the list of major projects up for tender in 2024, we see several road projects, some significant railway projects, numerous building developments, and new categories of PPPs, including dams, water supply networks, and more. The substantial expansion of projects has created a picture of growth in the construction sector, as the backlog of major groups continues to increase, recently surpassing €17 billion (for all four major groups combined).

What is particularly interesting is that purely private investments are increasing—both in number (with three listed here) and in investment value. Notable among them are Microsoft’s major investment in Spata and Lamda Development’s building projects in Elliniko.

Dominating the list are the major tenders for the BOAK (Northern Road Axis of Crete) and other large projects, such as the Dodecanese electrical interconnection, which ranks among the top three upcoming tenders. Today, we have gathered and highlighted the 20 largest projects up for tender, with a total value exceeding €14.7 billion, and we will examine the alliances that have formed in these cases (where applicable).

From the following list, several projects are expected to be contracted this year, including the BOAK, the expansion of Kymi Avenue, the Ellinikon Mall, and others.

20 Eleftherios Venizelos Airport: New multi-story parking and new aircraft runway, €188 million

In the international tender worth €188 million, which involves the construction of a new runway on the northwest side of the airport and a multi-story parking structure, two consortiums have been confirmed: the first is METKA, and the second is TERNA-REDEX.

The two projects will address the growing needs for both aircraft movement and vehicle parking. The project for the new runway is valued at €100 million, while the project for the multi-story parking is valued at €88 million. The contracting authority is the Athens International Airport (DIA).

19 Lamia-Karpenisi Axis: Makrykomi-Tymfristos section, €200 million

The contract involves the design and construction of the project “Lamia-Karpenisi Road Axis, section connecting the end of the Makrykomi bypass with the eastern entrance of the Tymfristos Tunnel.” The total length of the project is approximately 30 km. The project, for the most part, follows a new alignment, with the exception of small sections at the ends of the route. The tender began in 2023 by the Ministry of Infrastructure and Transport (YPOM). The consortiums participating are: ABAX, TERNA, METKA-AKTOR, TEKAL-TRACE-ELIKA, DOMIKI Kritis-EXTER-TENA-ERETVO, MESOGEIOS-ODOS-INTERKAT-ERGODOMIKI Voiotias-ERGOKAT.

18 New railway line Nea Karvali-Toxotes Xanthi, €240 million

The project involves works for the construction of infrastructure, trackbed, and stations for a new single-track railway line in the section Nea Karvali – Toxotes (Xanthi area), approximately 32 km long, as well as the branch from Nea Karvali to the new Kavala freight port, approximately 5.3 km long. The contracting authority is ERGOSE.

With this project, the connection between the new Kavala freight port and the existing railway network of Northern Greece is achieved, while simultaneously progressing the connection with the neighboring countries’ networks. The winning bidder in the tender was the company TERNA.

17 Eastern Sector Waste Facility, Central Macedonia Region, €241 million

This is the second facility in the region, and the tender is being conducted by the Central Macedonia Solid Waste Management Entity (FODSA), with the process ongoing since the fall of 2021. The temporary contractor chosen from the bidding process is the consortium TERNA-HLIOCHORA. The project includes the construction of a Waste Treatment Facility that will process 128,200 tons per year of mixed waste.

The facility will manage 36% of the mixed waste generated in the Thessaloniki regional unit, waste from Halkidiki, residues from the Halkidiki and Eastern Thessaloniki Material Recovery Facilities (MRFs), residues from the organic waste processing units in Halkidiki and Eastern Thessaloniki, and 22,000 tons per year of pre-separated waste. The facility will also serve the municipality of Thermi and 65% of the municipality of Thessaloniki.

16 Drama-Amphipolis Road Axis with PPP, €248 million

The PPP tender started on December 6, 2022, by the Ministry of Infrastructure and Transport with the expression of interest phase. The participants included GEK TERNA, AKTOR CONCESSIONS-MYTILINAIOS, INTRAKAT, and ABAX. The tender is currently in its second phase. The duration of the PPP project has been set to 360 months (30 years). The first four years are dedicated to the construction/upgrading of the road infrastructure, while the remaining period covers operation and maintenance.

15 Western Sector Waste Facility, Central Macedonia Region, €250 million

This is one of the largest upcoming projects of its kind. It is being carried out by the Central Macedonia Solid Waste Management Entity (FODSA) and has been ongoing since the fall of 2021. The temporary contractor selected from the bidding process is the consortium TERNA ENERGEIAKI-TITAN.

The nominal (maximum) capacity of the Waste Treatment Facility (MEA) is 300,000 tons of waste per year. The facility will be integrated into a modern Circular Economy Park, which will include, among other things, research and innovation centers, spaces for student or pupil education, green spaces and recreational areas, municipal vegetable gardens, and experimental fields.

14 University of Crete Student Dormitories, €255 million

This is also the largest upcoming university PPP project in the country. The contracting authority is the University of Crete. During the expression of interest phase in 2020, 7 consortiums participated, and the winning bidder was AKTOR. After several delays, the tender is expected to be signed this year. The goal is to begin the implementation of the projects in 2025.

13 Gonos Freight Center, €260 million

The property at the former Gonos military camp is planned to be developed as a modern multimodal freight center, which will serve as a hub for business activities and logistics operations. It occupies a strategic location at the western entrance of Thessaloniki, close to major road, rail, and maritime transport hubs. The contracting authority is the Strategic Investments Contracts Unit of the Hellenic Public Investment Fund (Hellenic Fund).
The proximity of the property to the Port of Thessaloniki, the Egnatia Road, Thessaloniki Airport, and adjacent rail infrastructure, as well as its location near the Balkans, provides significant geostrategic advantages for the planned development and expected uses. The successful concessionaire will be responsible for the licensing, development, construction, financing, operation, maintenance, and exploitation of the Business Park, covering a total area of 672,000 sqm. The following consortiums participated in the tender: Goldair Cargo – Aktor, TRADE LOGISTICS AEBE – INTRAKAT, NOVAL PROPERTY, Thessaloniki Port Authority.

12 Kymi Avenue Extension, €352 million

The tender concerns the first extension of Attiki Odos in 18 years. With this project, Kymi Avenue will extend to Lykovryssi, at the Kaliftaki interchange. A large portion of the project will be underground and will particularly serve the areas of Maroussi, Pefki, and help alleviate traffic on the section of Attiki Odos from Metamorphosis to Dukissis Plakentias. The tender started in January 2022 and is in its final stage; however, there is an appeal to the Council of State, and the decision, which will determine the project’s future, is awaited. The contracting authority is the Ministry of Infrastructure and Transport, and the winning consortium is TERNA-AKTOR-INTRAKAT.

11 Schisto Waste Facility, €372 million

A tender for another Waste Treatment Facility (MEA) in Attica. Specifically, the processing capacity of the Schisto facility is estimated at 250,000 tons per year of residual mixed waste and pre-separated organic waste. It will serve the needs of the municipalities of Piraeus and some of the municipalities in the Western Suburbs. In the September 2021 tender, five consortiums participated. The contracting authority is the Solid Waste Management Organization of Attica (ESDNA).

10 Ellinikon Mall – 400 million euros

The Ellinikon Mall Complex, designed by the top architectural firm AEDAS, will become the largest mall in the country. It will feature 280 stores and is expected to welcome 17 million visitors annually. The shopping center will have a total built-up area of 129,424.64 m², spread across three ground levels and one upper floor.

We are very close to the final stage of selecting a contractor. The most likely candidate is the Avax-Rizzani consortium, which is already performing preliminary works. These preliminary works for space preparation have been ongoing since the fall of 2023, and it is estimated that the main construction will begin in the summer.

The project is expected to be completed by early 2027. Once operational, it will become the largest mall in Greece, almost 1.5 times the size of The Mall in Marousi, and will also be one of the largest shopping centers in Europe.

9 Submarine Tunnel of Salamis – 400 million euros

The eternal competition. It started in 2016 and continues. We are now waiting for the approval of environmental terms, which will give the project life. It concerns the submarine connection between Salamis and Perama via Skistos Avenue. The project will provide Salamis with a direct link to Attica and will create development opportunities. The contracting authority is the Ministry of Infrastructure and Transport.

8 Thessaloniki–Edessa Road Axis – 444 million euros

This is yet another road project under a PPP (Public-Private Partnership). The tender process started in December 2022 and has attracted the interest of five major groups. Once completed, it will create a significant vertical axis on the Egnatia Road and facilitate road transportation to/from Thessaloniki. The contracting authority is the Ministry of Infrastructure and Transport.

7 Government Park Andreas Lentakis – 522 million euros

The expression of interest began on October 25, 2024, by the Strategic Investment Contracts Unit of the Hellenic Public Property Company (Superfund) on behalf of the Ministry of National Economy and Finance. The following groups advanced to phase B: GEK TERNA S.A., a consortium of “AVAX S.A. – AKTOR CONCESSIONS S.A.,” and a consortium of “METLEN – INTRAKAT.”

The Public-Private Partnership (PPP) contract involves the design, financing, construction, operation, and maintenance of a new administrative complex of office buildings (Government Park Andreas Lentakis) in the Municipality of Dafni-Ymittos, including the development of a large urban park that will serve as a “green lung” for the broader area of Dafni-Ymittos Municipality.

6 Fylis Waste Processing Plant – 570 million euros

The tender for the Fylis Waste Processing Unit (MEA) is the largest in the country. The Waste Treatment Plant (MEA) of the Central Circular Economy Park of Attica, which will be built in the Fylis area, has a budget of 571 million euros. The plant’s capacity is estimated to be 450,000 tons per year of residual mixed waste and pre-sorted biowaste. The tender, which started in September 2021, includes the following consortiums: TERNA ENERGIJA-TITAN, MORE – AVAX – THALIS, MYTILINEOS – MESOGIOS, INTRAKAT, HELECTOR – AKTOR CONCESSIONS. The contracting authority is the ESDA (Regional Waste Management Authority of Attica).

5 Extension of Metro Line 2 to Ilion – 682 million euros

This project involves the 4-kilometer northern extension of Athens’ Metro Line 2, which will provide access to the western suburbs, including Ilion, Agii Anargyri, and Kamatero, within the capital’s transportation system. Currently, this tender is for the largest purely public project in the country.

The tender by Hellenic Metro for the extension of Line 2 to Ilion includes approximately 4 kilometers of underground double track and the construction of 3 stations. Two of these stations will be located on Thivon Avenue. The first station is called PALATIANI, the second is ILIOS, and the new terminal station will be named AGIOS NIKOLAOS. The total project cost, including VAT, is 682 million euros (550 million euros excluding VAT). The contracting authority is Hellenic Metro.

The tender, which began on May 3, 2023, with the expression of interest, attracted a total of 4 consortiums: TERNA, INTRAKAT, AVAX-GHELLA-ALSTOM, and AKTOR-MYTILINEOS. At this stage, the environmental approval processes and the review of participant dossiers are being completed to determine which consortiums will move on to the second round.

4 New Prisons in Aspropyrgos with PPP – 765 million euros

This is the most recent addition to the list of major projects under tender. The scope of the Public-Private Partnership (PPP) contract includes the financing, design, construction, equipment procurement, maintenance, and technical management of the infrastructure that will house the Judicial Penitentiary Complex of Athens (JCPA) and the Directorate of Prison Transfers of Attica (DPTA) in Aspropyrgos, on a 100-hectare site. It is the largest building project-PPP in the country’s history.

The duration of the contract for the relocation of Korydallos Prison has been estimated at 360 months, with the first 3-4 years dedicated to the construction phase of the project. However, the final duration of the partnership will be determined during Stage B.I (dialogue) of the Second Phase of the Tender. The expression of interest attracted the following participants: AVAX, AKTOR CONCESSIONS, GEK TERNA, MYTILINEOS.

3 Alexandroupolis–Ormenio Railway Line – 800 million euros

This project involves the conversion of the railway line into a double, electrically-powered high-speed line. It is of strategic importance for the country because it opens the door to freight transport between Greece and Bulgaria. The contracting authority is ERGOSE. The project essentially aims to maximize the country’s efforts to become a major logistics hub in Southeastern Europe. The consortiums participating in the tender include TERNA-INTRAKAT, AKTOR-MYTILINEOS, and AVAX-ALSTOM.

2 Dodecanese Islands Electrical Interconnection – 1.42 billion euros
The tender for the electrical interconnection of the Dodecanese Islands has been announced and is now the largest energy project in the country, as well as one of the largest domestic projects. According to ADMIE, the Implementing Agency, the plan foresees that with the electrical interconnection of the Dodecanese Islands, Kos, Rhodes, and Karapathos will be connected to the mainland grid via Corinth, in two phases.

Upon completion of the interconnection, six autonomous electrical systems in the Dodecanese will be connected to the mainland grid. This will eliminate the energy isolation of Rhodes (and indirectly Halki, which is connected to Rhodes by a medium-voltage submarine cable), Karapathos (and Kasos, which is connected by a medium-voltage submarine cable), Symi, Kos-Kalymnos (and indirectly Pserimos, Telendos, Nisyros, Tilos, Leros, Lipsi, and Giali), Patmos, and Arkoi (and Marathos, which is connected by a medium-voltage submarine cable).

1 Northern Crete Highway (VOAK) – Chania-Heraklion Section – 2.05 billion euros

The second largest project under tender in the country involves the Chania-Heraklion section of the Northern Crete Highway (VOAK) as a concession project. The first phase of the tender began on October 18, 2018. In 2023, the tender moved to Phase B, and in May, the technical and financial proposal files were submitted by the three consortiums. The contractor for the project has been awarded to GEK TERNA. The concession contract is expected to be signed in the coming period, and construction is estimated to begin in 2026.

The Chania-Heraklion section of the VOAK is the main part of the highway, with a length of 157.5 kilometers. A key feature of the project is the planned construction of 34 kilometers of tunnels (for both directions of traffic, i.e., approximately 17 kilometers per direction). The contracting authority is the Ministry of Infrastructure and Transport.

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