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GEK TERNA, the “firm” hand in construction – 4 billion for investments

Newsroom Ypodomes.com

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With a strong financial structure, important projects in progress, participation in all new major projects and a plan for the implementation of new projects amounting to 4 billion euros, GEK TERNA Group is today the steady steering wheel in the field of construction in the country. A force that has managed in the midst of very difficult -objectively- conditions to increase the scope of its work, while its given faith and choice in the projects of “clean energy” ranks it among the great “players” in energy investments.

According to the latest announced data, the group’s backlog amounts to approximately 1.7 billion euros, while it participates in tenders for projects worth more than 2.5 billion euros with 1.4 billion euros of them “locked”.

The successful strategy that leads to investments of 4 billion euros

The current situation has essentially proved that the group’s choice in the field of clean energy was wise as they are proved the most resilient in times of crisis worldwide.

Today, GEK TERNA has managed to have financial strength and confidence, promoting its impressive investment program, amounting to 4 billion euros while creating 20,000 jobs. Besides, the recent investment of funds from foreign funds in TERNA ENERGIAKI and previously in its parent company is not accidental.

GEK TERNA, operating as one of the main business pillars in the country, especially during the period of economic crisis, today confidently promotes an investment program of 4 billion euros, divided into energy and infrastructure.

More specifically, the first pillar of investments includes 2 billion euros in investments in energy and the circular economy in:

-RES installation works 700 million euros
-storage works through pumped storage of 800 million euros
-waste management projects 200 million euros
-power generation projects from natural gas 300 million euros

The second pillar includes investments of 2 billion euros in infrastructure in which the group participates:

-in concessions
-Kasteli
-Casino (IRC) in Elliniko

The front of projects

Today the biggest projects of the group concern the construction of the new airport in Kastelli, a project costing 480 million euros, the lignite plant “Ptolemaida 5”, costing 1.4 billion euros and the southern part of the E65 highway, from Lamia to its area Xyniadas, project costing 300 million euros.

In Kastelli, the concession project is moving within the official timetables and the continuation of executions of the necessary expropriations. The projects of this year are summarized in the configuration of the construction site, the necessary opening of roads for the access of heavy vehicles, the archeological excavations but also the maturation of the studies.The main construction object, which will be completed in 2025, is expected to start in 2021.

In the lignite unit “Ptolemaida 5” the project is in its final stage and according to the current schedule, the unit is scheduled to be put into operation in 2022.

Τhe southern part of the E65 highway, Lamia-Xyniada, is halfway through construction. The works are running satisfactorily and especially in the large tunnel of Othrios, as there are less than 400 meters left to be opened. The completion of the project is expected by the beginning of 2022,as it will be united with the operating section Xyniada-Trikala, creating a single axis of 111km that will cease to be “blind”.

In addition, the group participates in other major projects such as PPC Peloponnese, IPTO projects for the electrical interconnection with Crete, the TAP pipeline, but also private projects.

Major projects are also in progress in Cyprus and the Balkans. Especially in Cyprus we have the very big project of “City of Dreams”, a casino that is worth 270 million euros that GEK TERNA executes jointly with AVAX but also the second phase of the “Ayia Napa Marina”, a project that is worth 164 million euros.

Participation in new projects

GEK TERNA has a strong presence in the new major projects of Greece. The casino in Elliniko and the northern part of E65 are already “sealed” . For the “Integrated Resort Casino”, the Consortium of TERNA and Mohegan is the only contender. For this project everybody is expecting the decision of CoCafter an appeal of “Hard Rock”  (the trial is set for September 18) , but there is restrained optimism. It should be recalled that both HR’s precautionary measures and appeals to the Supreme Court of First Instance were rejected in the recent past.

If there is no negative answer, then the unsealing of the offers will proceed and the biggest building project of all times for Greece will be signed, since its budget reaches 1 billion euros, while at the same time it opens the way for the start of the main project of the large investment of Elliniko.

Negotiations are also underway by the Ministry of Infrastructure and Transport for the northern part of the E65, Trikala-Egnatia, which completes the highway. The € 400 million project, according to sources, has been successfully passed by the DG Regio and DG Comp management and this final approval is expected from a “horizontal”, cross-sectoral authority that will complete the request. The project is estimated to start within 2021

At the same time, the group participates in many large public, concession and PPP projects, such as VOAK, Egnatia Odos, the submarine of Salamis, the dormitories at the Universities of Crete, Thrace and Thessaly, etc.

The Natural Gas Unit planned by GEK TERNA in the area of Komotini is also of great importance. The investment of 300 million euros, once the final investment decision is made, will take shape in 2021.

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The CoS speeds up the Casino and the investment in Hellinikon

Newsroom Ypodomes.com

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Καζίνο Ελληνικό Mohegan ΓΕΚ ΤΕΡΝΑ

Today is a big day for the upcoming investment in Hellinikon. According to secure information from ypodomes.com, the Council of State recently rejected the appeal of Hard Rock, paving the way not only for the casino, but also for the entire investment of 8 billion euros, since the contract for the casino is a deferral decision for the development plan in Elliniko. According to the same information, a relevant announcement is expected to be issued within the day.

This decision will trigger a series of chain developments which will bring us very close to the start of the main project, in 2021. Regarding the implementation of the largest building project in the country for the development of Integrated Resort Casino in Elliniko, the road is now open for Gaming Supervision and Control Committee (GSC) to complete the competition.

The next step is to invite the Mohegan-GEK TERNA consortium that has become a temporary contractor to unseal its financial offer (its technical offer was approved two months ago).

If the price is considered satisfactory, then the tender is awarded in favor of the Mohegan-GEK TERNA scheme which will be declared contractors of the project.

The relevant contract will then be sent to the Court of Auditors for approval, followed by its ratification by the Greek Parliament to reach the moment of signing.

The casino .. unlocks Lamda’s investment

It is certain that the Ministry of Development and Investments will smile today, as of course the HRDH that conducts this “eternal” competition. With the competition for the casino “speeding up” it is as if we have the key that unlocks the investment of Elliniko by Lamda Development. An investment that has been a government priority on which are based great hopes for the development course of the country.

Regarding the project that has the name “Inspire Athens”, an investment of 1 billion euros is foreseen with the approximately 600 million euros being the purely construction part. The mega-project is planned to be built in the area of ​​Agios Kosmas and will be an independent investment independent of the investments that Lamda Development has committed to make.

It will be the first integrated tourist complex with casino (Integrated Resort and Casino – IRC) in Greece, consisting of a luxury hotel, entertainment venues, conference center, shops, restaurants, casino, as well as a complete combination of high quality services.

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The Thessaloniki Metro Development Study has been signed

Νίκος Καραγιάννης

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A very important contract for Thessaloniki was signed yesterday at the offices of Attiko Metro and concerns the famous Thessaloniki Metro Development Study. It is essentially the beginning for the investigation of the needs of urban transportation and their imprinting for the creation of a future dense Metro network that will cover the entire urban complex of the city.

The signatories of yesterday’s ceremony were the CEO of Attiko Metro SA. Mr. Nikos Kouretas, the president of Α.Μ. Nikos Tachiaos and the President of the design company ADT OMEGA SA Mr. Charalambos Andrikopoulos.

The purpose of the study is to investigate the needs for new Metro projects after the implementation of the Main Metro Line and the Expansion to Kalamaria and to formulate a Metro Network Development Plan in Thessaloniki, in the framework of an updated Transport Plan for the city, with a planning horizon of 2040. The Study will also identify the needs of travel demand and related infrastructure projects in Thessaloniki.

The study includes:

1. The current situation in the whole Prefecture of Thessaloniki (movement of 12,000 households selected by random statistical sampling, Declared Preference survey, inventory of road network characteristics, roadside survey and public transport survey). These surveys will be carried out in the next standard traffic period (March – May 2020), in order to have sufficient preparation and to mitigate the effects of the coronavirus on daily movements.
2. Analysis of the current situation.

3. Configuration of alternative scenarios of transport infrastructure networks.

4. Development of a transport model.

The total duration of the contract is 2 years. The main staff of the study team consists of 22 experienced traffic engineers and other scientists. Mr. George Nellas has been appointed General Coordinator (Project Manager) responsible for the execution of the respective study in Athens.

ADT OMEGA will also be assisted by the company SYSTEMA, which has participated in the drafting of the National Strategic Transport Plan of the Country. It is estimated that more than 100 people will be employed during the surveys.
The estimated remuneration of the works was 2,990,000 euros plus VAT and the discount given was 32.7% as revealed to you by ypodomes.com.

Satisfaction from Attiko Metro-ADT OMEGA

The President of ATTICA METRO SA, -a first-hand knower of the conditions in the co-capital- Nikos Tachiaos, said he was happy to sign the contract because using the traffic forecasting model that will be produced by the Study, there can be designed in a rational way, not only the extensions of the Thessaloniki Metro, but also the entire traffic network of public and private means of transport in cooperation with the city’s bodies.

Mr. Panagis Toniolos, executive of ADT OMEGA and President of SEGM, praised the executives of ATTICA METRO for the exemplary professional treatment of the assignment process and pointed out the fact that this study is a real “infrastructure study”, necessary for the rational planning of transport infrastructure of Thessaloniki corresponding to the Athens Metro Development Study prepared in the period 1996-2000

It is to be reminded that the submission of bids took place on May 29, 2019, from where the contractor of the project emerged. The research – due to coronavirus – is expected to take place in the spring of 2021, however, the necessary actions for the implementation of the surveys will start immediately.
In fact, according to information from ypodomes.com, ADT OMEGA intends to open an office in Thessaloniki, to ensure the best possible result by being really present in the field of research.

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The extension of Metro Line 3 to Piraeus “speeds up”

Νίκος Καραγιάννης

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Σταθμός Μετρό υπό κατασκευή

Two months after the extension of Line 3 from Agia Marina to Nikaia, everyone’s eyes are turned on the second half of the project, which is the final extension of the Line to the port and the center of Piraeus.

The three stations under construction of Attiko Metro are: MANIATIKA, PIRAEUS and MUNICIPAL THEATER. With the operation of the new terminal of Line 3, Metro will now have managed to reach the “heart” of the city, serving the economic and commercial zone of Piraeus.

The critical station in the port

According to information from ypodomes.com, the works at this time go underway without any hurdles. The most pleasant, according to the same sources, is that the critical point of the works, which is none other than the construction site for the construction of PIRAEUS station, opposite the port of Piraeus, has now reached a good pace.

The progress is stabilized and in fact the work was not stopped even in August, in order to make up for lost time. The foundation slab has been completed and the works for the construction of the load-bearing structure (i.e. the station) from reinforced concrete are in progress.

MANIATIKA station is moving in a more advanced pace, as the concreting works have reached the waterproofing of the roof slab and the main entrance of the station, i.e. at the height of the street.

Even more advanced is the station DIMOTIKO THEATRO where the architectural finishing works have started, while in the underground part of the station the concreting of the permanent padding, walls and dock slab has been completed.

The tunnel from Nikaia to the Municipal Theater and consequently to the end of the line, has been completed for a long time, but it needed to be drilled for the construction of PIRAEUS station, as it had been passed earlier to gain construction time.

The work that remains to be done is the construction completion of the stations and the surface areas that are currently construction sites, the completion of the superstructure (lines), the E / M systems and the completion works.

2022 is the goal year

The goal of Attiko Metro is -after the success of the delivery of the first half of the expansion in the summer- to deliver in operation the rest of the project by 2022, by completing a ten-year effort since its construction began. It is to be reminder that the project is part of the overall expansion of Line 3 from Agia Marina to the Municipal Theater of Piraeus, costing 730 million euros with the contractor AVAX-GHELLA-ALSTOM. The financing of the project has been covered by the NSRF 2007-2013 and NSRF 2014-2020.

With the operation of the Nikaia-Municipal Theater extension, Line 3 will reach 27 stations and will become the largest in the network. PIRAEUS station will become the largest transport hub of the capital, bringing together two Metro stations (as well as the surface station of Line 1), the Suburban (at a distance of 50 meters) the Tram (at a distance of 100 meters), bus lines, trolleys and just opposite will serve the port.

The terminal DIMOTIKO THEATRO will also be connected with a tram stop and buses and will be an important transport hub for the city of Piraeus

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