Greek construction industry insights: here are AVAX Group’s Top-10 in-progress infrastructure projects

One of the traditional forces in the country’s construction industry is the AVAX Group. With one of the richest portfolios in large-scale projects in the country, it is now one of the most significant contractors, employing thousands of industry workers.

AVAX Group is involved in major road, railway, energy, and building projects, including the metro, and participates in the country’s significant tenders. Today, the projects it has undertaken have built an executed value of 3.2 billion euros, and this is expected to progressively increase to over 4 billion euros by 2024, with the acquisition of new projects.

One of the significant characteristics of the AVAX Group is its commitment to sustainable, profit-oriented projects. As a result, even during the challenging decade of the 2010s, when excessive discounts were prevalent, the group remained among the few that did not succumb to the “temptation.”

Today, ypodomes.com continues its tribute to the 10 largest projects of Greek construction groups by presenting the major projects of the AVAX Group. These include the country’s largest public project for Metro Line 4 in Athens, the DEVA Energy Production Station in Romania, three hospitals in Komotini, Thessaloniki, and Sparta, the Flyover of the Thessaloniki Ring Road, participation in the Patras-Pyrgos road project, the Brales-Amfissa road project, infrastructure projects in Elliniko, involvement in the operation-maintenance of the Psychiko centre, the railway projects Paleofarsalos-Kalambaka and Thessaloniki-Eidomeni.

The top 10 under-construction projects of the AVAX Group

1. New Metro Line 4 in Athens

The largest public project in the country involves the construction of the new Line 4 of the Athens Metro. AVAX has undertaken the project in collaboration with GHELLA and ALSTOM in a competition that lasted almost 4 years. The project for the new “orange” line includes 12.8 kilometres of underground track and 15 stations. It starts from Alsos Veikou and, passing through Galatsi, Kypseli, Gyzi, the city center, Kaisariani, and Zografou, will terminate at Goudi.

The cost of the new line amounts to approximately 1.8 billion euros (including VAT), and the contracting authority is the Athens Metro. The contract was signed in June 2021, with an initial schedule of eight years, meaning completion is anticipated by 2029. It is considered the most significant transportation and environmental intervention for Athens, making a substantial contribution to reducing air pollution. The project is currently in progress.

2. DEVA Energy Production Station in Romania

It involves the study, construction, and commissioning of a combined cycle power plant with a capacity of 1,750 MW, with a total budget of 673.5 million euros. Specifically, the Mintia Combined Cycle Power Plant unit will be constructed in the Deva region of Romania.

The construction is expected to last for 38 months and is set to commence immediately, creating approximately 700 job positions. This project represents the largest electricity generation unit awarded to a Greek company to date, and it is scheduled to be delivered turnkey by the summer of 2026.

3. Three hospitals in Komotini, Thessaloniki, and Sparta

In This involves taking on a cluster of projects for the construction of new hospital facilities. It includes the construction of the first pediatric hospital in Thessaloniki and the construction of two general hospitals in Komotini and Sparta. The cost of the projects amounts to approximately 442 million euros, making it the largest combined building construction contract in the country today. The initiative is a donation from the Stavros Niarchos Foundation, which collaborated with AVAX in early August 2023. The goal is to complete these significant healthcare buildings in approximately 30 months, contributing to healthcare in the country.

4. Thessaloniki Ring Road Flyover

This project involves the creation of an elevated axis on the eastern side of the Thessaloniki Ring Road with a cost of 450 million euros. It is implemented using the DBFM method and is executed in collaboration with Mytilinaios (M Concessions). With this project, the hourly capacity of the city’s ring road will increase, providing a direct connection to the southern region of the prefecture and Halkidiki, helping to alleviate traffic congestion, especially during peak hours. It is expected to be completed by the end of 2027, with a total construction duration of 48 months.

5. Patras-Pyrgos Motorhway: Midiloggli-Karaiika Section

One of the most discussed and necessary road projects in the country, it is the third-largest road project after those in the southern and northern sections of the E65. AVAX is responsible for the construction of the Karaiika-Gastouni section. The other sections are being constructed by TERNA and AKTOR.

6. Bralos-Amfissa

This road project is part of the diagonal axis Lamia-Itea-Antirrio, essentially connecting the eastern part with the national highway network. The cost of the project is 285 million euros, and the contract was signed in the Spring of 2023 with the Ministry of Infrastructure and Transport. The project aims to significantly improve road safety along this axis and reduce the travel time from Lamia to Antirrio. It is expected to be completed in 2027, with a construction duration of 54 months.

7.Urban Infrastructure Projects in Elliniko

The projects include water supply and sewage networks, electricity, road networks, sidewalks, anti-flooding measures, and port works for the section to be constructed in the first phase. A flagship feature of the project is the undergrounding of Poseidon Avenue, estimated to cost around 50 million euros.

For this purpose, over 100 specialized studies have been conducted. There will be pathways including sidewalks and bike lanes covering over 50 kilometres, with a prominent feature being a 2.5-kilometer pedestrian path and a 56-meter-long pedestrian bridge connecting Vouliagmenis Avenue to the coastal front. The total infrastructure project package is estimated to cost approximately 250-300 million euros. The implementing entity is Lamda Development, responsible for the major investment project in Elliniko. The projects commenced in the Spring of 2021 and are expected to be completed by 2025.

8. Operation and Maintenance of Psyttalia

AVAX is involved in the operation and maintenance of the Psyttalia Waste Treatment Center, along with AKTOR and ERGOTEM. This is a significant project that ensures the smooth operation of the entire sewage network of the capital. The cost of the project reaches 261 million euros, and the contracting authority is EYDAP.

9. Signaling of the Thessaloniki-Edessa Railway Line

This is a particularly important project for the safety and operation of the railway. Regarding the project, it involves the installation of a modern signalling system, as well as ETCS – level 1, on the Thessaloniki-Edessa section, and the replacement of 37 track switches for signalling purposes.

With the completion of the project, the modernization of the single electrified railway line leading to the borders with the Western Balkans is concluded. From there, it connects to Central and Western Europe, paving the way for international passenger routes that have been nearly non-existent for years. AVAX undertook this project in collaboration with ALSTOM in March 2022, and it is expected to be completed by 2025. The budget for the project is 56.7 million euros.

10. Natural Gas Expansion in Regional Cities

AVAX has undertaken a series of projects to expand the natural gas network in several cities in the region. Specifically, the projects include Komotini-Alexandroupoli, Kavala, Kastoria, and Serres, while soon to be added are Patras, Pyrgos, and Agrinio, bringing the total to 60 million euros. The contracting authority for these projects is the Hellenic Gas Transmission System Operator (DESFA).

More projects

AVAX Group is concurrently executing major projects such as the new Small Scale LNG jetty, among others. For 2024, AVAX Group anticipates signing new significant infrastructure project contracts, with the most notable being the large building project, Vouliagmenis Mall, in collaboration with Rizzani de Eccher.

The Group participates in almost all major tenders in the country. This includes competitive dialogues for railway projects amounting to 4 billion euros, the BOAK (Chania-Hersonissos) tender, the competition for the extension of Metro Line 2 to Ilio, the SDIT road projects Drama-Amphipolis and Thessaloniki-Edessa, as well as contracts in Elliniko, among others.

The Group is also involved in major tenders for building projects, such as PPP projects like schools in Central Macedonia, the 13 Regional Civil Protection Centers, the 12 Courthouses, the new Aspropyrgos Prisons, and others.

The feature on ypodomes.com continues with the top 10 projects of MYTILINAIOS Group, including projects by INTRAKAT and projects by ELLAKTOR. The report on the top 10 projects of the GEK TERNA Group has preceded this.