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Creece’s leading construction Groups “fight” for the domination over new generation projects



The battle for the new generation major projects of the country is underway for the domestic leading construction Groups. Athens Metro Line 4, Underwater Salamina Tunnel, Crete’s Northern Motorway Axis (aka VOAK), Kasteli International Airport and the completion of E65 Motorway are the “main menu” of the country’s new projects.

AKTOR, TERNA, J&P AVAX, MYTILINEOS and INTRAKAT are the main protagonists for these big projects along with the European leading companies Vinci and Hochtief for the “conquest” of the golden contracts.

Salamina Underwater Road Tunnel’s tender is underway for the past 2 years. According to the current planning, in the beginning of 2019, we will be reaching the critical point for the submission of the binding financial offers from which the contractor (and concessionaire) will be decided. It is reminded that 3 contenders participate in the tender: METKA, TERNA and VINCI CONCESSIONS – VINCI HIGHWAYS – AKTOR CONCESSIONS. Construction works are estimated to last about 4 years.

Regarding Athens Metro Line 4, which is the largest of all projects, costing 1.8bn euros (VAT incl.), 3 large joint ventures have expressed their interest: 1. TERNA-VINCI-SIEMENS, 2. J&P AVAX-GHELLA-ALSTOM and 3. AKTOR-ANSALDO-HITACHI RAIL ITALY. The Expression of Interest began in August 2017 while the contract is expected to be signed by the end of 2019.

VOAK that has just been announced with 2 separate tenders from Chania to Neapoli, Lassithi, is expected to create new alliances for the large-scale project with a budget of 1.5bn euros.

It is reminded that at Kasteli Airport, we are currently in the pre-contractual period. TERNA-GMR consortium will invest around 500mln euros, while TERNA also the contractor for the completion of E65 (both in the southern and the northern section of the motorway) with a cost of 700mln euros.

The Greek company has secured these projects with a cost of 1.2bn euros in total, however the first 3 of the above list, worth 3.7bn euros, will decide who will be the “King” of constructions sector in Greece for the next five years (without to taking into account Hellinikon redevelopment project).



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