Here are Greece’s top new infrastructure projects in 2024

2024 has just begun, and the infrastructure sector is eagerly anticipating what this new year will bring. Throughout 2023, we witnessed numerous developments, as reported by ypodomes.com. However, 2024 promises to be a year in which construction performances are expected to further increase.

In this new year, we expect to be engaged by some major projects that have come to public attention. It is no secret that 2024 is anticipated to be the year of the BOAK and the Attiki Odos in Greece.

The BOAK is expected to open financial bids in the coming days, announcing which consortium will undertake the concession of 1.75 billion euros. Various consortia are competing for the project on the Chania-Heraklion section, extending to Hersonissos. The competing consortia include: AKTOR PARACHORISEIS – MYTILINEOS, AVAX-EGIS PROJECTS-MERIDIAM, and GEK TERNA.

This road project by the Ministry of Infrastructure and Transport is the largest new concession, and understandably, it represents the “apple of discord” for construction groups that want it in their portfolio. Due to its size, it is poised to shift the balance within the entire industry.

With great interest, we are also eagerly awaiting the outcome of the Hellenic Republic Asset Development Fund’s HRADF competition for the new concession period of the Attiki Odos. It is worth noting that the preferred investor has been identified as GEK TERNA through the competitive process. However, the competition is currently on hold as there is a legal challenge in the Council of State by the second-ranked bidder – a consortium composed of Vinci and Mytilineos – based on their financial proposals.

The decision of the Council of State is expected in the Spring, and consequently, it will determine whether the existing concession, set to expire in the upcoming October, can smoothly transition to the new one without delays. Essentially, the outcome of the Attiki Odos competition will be of particular concern to us in the new year.

Equally intriguing is the case of the competition for the expansion of Kymi Avenue, which has also been “stalled” due to a judicial appeal to the Council of State by the Municipality of Heraklion in Attica. The decision is expected by March; however, there have been discussions between the Ministry of Infrastructure and Transport and the Municipality to find a solution, allowing the competition to be completed and the implementation to commence. Additionally, it will be necessary to secure its inclusion in the ESPA (Operational Programme Competitiveness, Entrepreneurship, Innovation) for the 2021-2027 period in order to finalize the contract.

Developments are also expected in the competition for the expansion of the Metro in Ilion. The Hellenic Metro launched the tender last May, and a total of 4 consortia are competing for the 680 million euros project: TERNA, INTRAKAT, AVAX-GHELLA-ALSTOM, and AKTOR-MYTILINEOS.

This is a magnet project, not only due to its substantial budget but also because it is the only new Metro project since 2017 and the construction of Line 4. Within the first quarter, we expect the competition to proceed to the second phase, and there is a possibility that by the end of the year, we will have the submission of bids to determine the contractor. It’s worth noting that the construction includes the new stations of Palaia Psichiko, Ilion, and Agios Nikolaos, all within the administrative boundaries of the Municipality of Ilion.

In 2024, the contract signings are expected for two road projects: Ioannina-Kakavia (awarded to AVAX) and Makrakomi-Tymfristos. These are two significant road projects that will substantially enhance road safety levels in the areas where they will be implemented.

Signatures are expected for the Thrassian II project, with the consortium Hellenic Train-Damco as the contractor, and for the new building of the General Secretariat for Infrastructure on Piraeus Street. The same applies to the student dormitories in Crete, Thessaly, and possibly Thrace.

In the ongoing competitions, we will be awaiting developments for the road axes Drama-Amphipolis and Thessaloniki-Edessa, as well as the projects for the infrastructure and redevelopment in the Botanikos area. In the first half of 2024, the complex competition for the completion of the 6th pier at the Port of Thessaloniki is expected to be completed, doubling the container handling capacity. Additionally, in 2024, we anticipate the submission of bids for the concession of Kalamata Airport by the Hellenic Republic Asset Development Fund. The competition is quite advanced, and it might conclude in 2024 if there are no delays or legal challenges.

For new competitions in 2024, we do not expect significant activity. However, we are eagerly anticipating the auction for the highly important road project, the triple interchange of Skaramangas, crucial for Western Attica, which completes the Western Peripheral of Aigaleo. In the new year, we also anticipate the launch of the competition by the Hellenic Republic Asset Development Fund (HRADF) for the government park in Pyrkal. The ambitious plan involves the redevelopment of the area and the relocation of nine ministries. Additionally, we are expecting HRADF to initiate competitions for the Transport Park of Fyli and the Goods Center of Gonou in Thessaloniki.

The same applies to the competition regarding the new KTEL terminal station in Eleonas. This is a project that, despite being in the spotlight for years, has yet to mature to the point where it can progress towards implementation. A competition is expected to be announced within 2024 for the concession of the remaining 22 Regional Airports by the Hellenic Republic Asset Development Fund.

The competitions for the Vouliagmenis Mall, the sports facilities, the park, the tower in Vouliagmeni, and the Riviera Galleria (the mall in the Marina of Agios Kosmas) are nearing completion in Hellinikon. Simultaneously, projects for villas and condos in Agios Kosmas will commence, while a competition is expected for the area called Little Athens.