Here are Greece’s top infrastructure projects per region

The period we are currently experiencing is among the richest in terms of infrastructure projects under construction. Major works are underway across the country, and over the years, we observe that the map of projects is shifting. Beyond the dynamic regions of the country, such as Attica and Thessaloniki, we notice that in recent years, Crete has been making its presence felt with very significant projects like the electrical interconnection with Attica, the BOAK highway, and the new airport in Kastelli.

So far, 2024 has brought us completed projects such as the Amvrakia Motorway, sections of the E65, and, of course, the largest project handover ever in Thessaloniki with the operation of the main line of the Metro.

On the map of major infrastructure projects, we see a variety of developments. These include road projects as well as energy projects. A new major player on the map is building construction, particularly private-sector projects. As the country continues to move further away from the crisis of the past decade, private construction is making a strong comeback, as evidenced by the projects currently being implemented.

In public projects, a significant factor is funding from the 2021-2027 NSRF (National Strategic Reference Framework), the Recovery Fund, as well as projects developed through state-market collaboration, such as concessions and PPPs (Public-Private Partnerships).

Crete – South and North Aegean

Attica-Crete Electrical Interconnection: €1 billion. Multiple contracts are underway, and the entire project is estimated to be completed by 2025. Contractors include NEXANS, PRYSMIAN, the consortium of HELLENIC CABLES-NKT, and the consortium of SIEMENS-TERNA. The awarding authority is ADMIE (Independent Power Transmission Operator). The contract was signed in 2020.

New Kastelli Airport in Heraklion: €500 million. Construction is now well underway, with progress exceeding 35%. The project is estimated to be completed by 2027. It is being constructed by TERNA on behalf of the TERNA-GMR consortium. The awarding authority is the Ministry of Infrastructure and Transport. The contract was signed in 2019.

BOAK (Northern Crete Motorway): €2.1 billion. This is a segmented project consisting of three sections, with two currently under construction. The Hersonissos-Neapoli and Neapoli-Agios Nikolaos sections are now active projects, with the contractors being the consortia GEK TERNA-AKTOR CONCESSIONS-INTRAKAT and AKTOR, respectively. The tender process for the Chania-Heraklion section, where the contractor is GEK TERNA, is also nearing completion. Once completed, the new motorway promises a significant improvement in road safety, speed, and driving comfort.

Electrical Interconnection of Serifos-Milos-Santorini-Folegandros: €328 million. This dual project will connect the four Cycladic islands to the mainland power system. Completion is estimated for 2025.

Attica – Central Greece

Mpralos-Amfissa Road Project: €286 million. This is part of the diagonal axis Lamia-Itea-Antirrio, connecting the eastern and western parts of the country. Completion is expected by 2027. The project is being constructed by AVAX. The awarding authority is the Ministry of Infrastructure and Transport. The contract was signed in 2023.

Integrated Resort Casino: At the end of 2023, construction officially began on the Integrated Tourism Resort with a casino in Elliniko. The investment amounts to €1.5 billion, with construction and equipment costs estimated at approximately €1 billion. The project is being constructed by TERNA, with the investment consortium comprising GEK TERNA and HARD ROCK INTERNATIONAL. This project is currently the largest building construction project ever undertaken in the country.

Athens Metro Line 4 – New Line: €1.8 billion. This project will be ongoing for several years. It is funded by the 2014-2020 NSRF, the European Investment Bank, and the 2021-2027 NSRF. The contract was signed in 2021. The construction is being carried out by the consortium AVAX-GHELLA-ALSTOM, under the supervision of Attiko Metro. Currently, two tunnel boring machines are advancing the tunnel excavation, and construction of the 15 stations included in the new “orange” line is underway.

Chalkida and Psachna Bypass: €210 million. This is the largest infrastructure project in Evia and one of the largest in Central Greece. It is being constructed by METKA. The awarding authority is the Ministry of Infrastructure and Transport. The contract was signed in 2023.

Elliniko Infrastructure Projects: €300 million. These projects involve the creation of infrastructure for the Elliniko investment. They include the development of networks, roads, flood protection, remediation works, and the undergrounding of 2.5 km of Poseidonos Avenue. The construction is being carried out by AVAX, with Lamda Development as the awarding authority. The contract was signed in 2022.

Riviera Tower: €350 million. This project involves the construction of the tallest building in the country, located within the Elliniko development area. It is being built by the INTRAKAT-BOUYGUES consortium, with Lamda Development as the awarding authority. The contract was signed in 2023, and completion is expected in 2026.

Aspropyrgos Logistics Center: €300 million. A major project currently under development by HIG Capital. It will become one of the largest logistics centers, featuring its own port, as well as a hotel, commercial spaces, offices, warehouses, and more. It is estimated to begin phased operations between 2025 and 2026.

Data Centers in Spata: €1 billion. This project involves the construction and development of three new data centers in the Attica region by Microsoft—one in Spata and two in Koropi—all designed to operate in coordination. The data center in Spata will have a capacity of 19.2 MW, double that of the data centers in Koropi, which will each have a capacity of 9.6 MW. The construction is being carried out by the GEK TERNA-RENCO consortium.

Peloponnese – Western Greece

Patras-Pyrgos Motorway: €310 million. The project is being implemented by Olympia Odos and is currently underway. Construction has been undertaken in sections by AVAX, AKTOR, and TERNA. Completion is scheduled for 2025, with progress currently exceeding 50%. The awarding authority is the Ministry of Infrastructure and Transport. The contract was signed in 2022.

Kalamata-Pylos-Methoni Road Axis: €312 million. This is a PPP project being carried out in Messinia, which will significantly improve road safety in the broader region. It is considered the natural extension of the Moreas Motorway. The project is being constructed by the AKTOR CONCESSIONS-INTRAKAT consortium. The awarding authority is the Ministry of Infrastructure and Transport. The contract was signed in 2023.

Railway Projects Kiato-Aigio and Aigio-Rio: €280 million. These involve two contracts aimed at electrification of the Kiato-Aigio section and reactivation with a double electrified line on the Aigio-Rio section. The projects are being constructed by the TERNA-METKA consortium, with ERGOSE as the awarding authority.

Epirus – Ionian Islands – Western Macedonia

Northern Section of the Central Greece Motorway E65 (Kalambaka-Egnatia): €442 million. Part of the project is also located in Thessaly. This ongoing project will complete the entire E65 motorway from Lamia to the Egnatia Odos. According to the timeline, it is expected to be completed by 2026. The construction is being carried out by TERNA, with the awarding authority being the Ministry of Infrastructure and Transport. The contract was signed in 2021.

550 MW Photovoltaic Park in Ptolemaida: €216 million. Currently in the initial construction phase, the project is being built by TERNA. The awarding authority is PPC Renewables. Construction is expected to be completed by 2025. The contract was signed in 2023.

Thessaly – Central Macedonia – Eastern Macedonia and Thrace

Thessaloniki Ring Road Flyover: €480 million. This PPP project is currently under construction and is expected to be operational by 2027. It is being undertaken by the AVAX-MYTILINEOS consortium, with the awarding authority being the Ministry of Infrastructure and Transport. The contract was signed in 2022.

Thessaloniki Metro: 25th Martiou-Mikra Branch: €500 million. The project is in advanced stages of construction and is expected to be operational by 2025. It is being built by AKTOR, with Attiko Metro as the awarding authority. The contract was signed in 2012.

ThessINTEC: The first major innovation center in the country. The initial investment amounts to €100 million, with further investments anticipated in the future. In this phase, a triple investment will be made for the ThessINTEC building, buildings for CERTH (Center for Research and Technology Hellas), and an Israeli fund.

New Power Generation Plant in Komotini: €375 million. Testing is fully underway by GEK TERNA and Motor Oil for the new “Thermoelectric Komotini” power plant, with a combined capacity of 877 MW. The plant is expected to become operational in 2025.

New Power Generation Plant in Alexandroupolis: €400 million. The project involves a partnership of PPC (51%), DEPA Commercial (29%), and Damco Energy of the Copelouzos Group (20%). The plant will have a nominal capacity of 840 MW and is expected to become the most efficient power generation unit in the country.

A standout initiative is the donation from the Stavros Niarchos Foundation (SNF) under an agreement with the Ministry of Health for the construction of three new hospitals: the new General Hospital of Komotini, the General Hospital of Sparta, and the new Children’s Hospital in Thessaloniki. The total cost is approximately €440 million, and the projects are being executed by AVAX.

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