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Mitsotakis: Crete Northern Motorway Axis, an inspiring project for the island

Νίκος Καραγιάννης

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ΒΟΑΚ, Βόρειος Οδικός Άξονας Κρήτης

Greek PM, Kyriakos Mitsotakis characterized Crete’s Northern Road Axis (aka VOAK) as an “inspiring project” for the island during his Press Conference held at the 84th Thessaloniki International Fair (TIF) on Sunday.

The Prime Minister also added that VOAK represents a personal commitment and will work on its implementation.

“The previous Government’s plan was incomplete and rushed” Mr. Mitsotakis commented, adding that “We will look into financing this motorway project and possibly leverage funds from other concession contracts too”.

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Updated plans for Patras new railway connection projects to be presented in July

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Σιδηροδρομικός σταθμός με ηλεκτροκινούμενες γραμμές

The Minister of Infrastructure and Transport, Mr. Kostas Karamanlis, intends to present his plans on how the modern railway will finally reach the city of Patras. According to information of ypodomes.com, the Ministry of Infrastructure does is not opposed to the solution of the undergrounding but to the complete undergrounding of the lines, a project that cannot be financed due to its very large budget.

The solution proposed by the Ministry

The solution to which the Ministry of Infrastructure and Transport is oriented, according to information of ypodomes.com, and which is the subject of negotiations with the competent directorates of the European Commission, presents, as noted by sources close to the case, many advantages:

At first, it accepts the fact that both intecity and suburban railway will become a valuable element of the city’s development. Regarding the layout, it provides for surface passage with a double-track electrified line from Rio to Aghios Dionysios (where a new modern central station will be built). In this section, 2 or 3 immersions of 100 meters each, have been planned in Bozaitika, Panachaiki and Agyia areas.

In addition, this solution involves another immersion of the section between Aghios Dionysios nad Aghios Andreas (with the cut and cover method) with a single-track line aiming to open the city to the seafront and achieve access of the railway to the port. At the same time, the Suburban Railway will operate in a boxed surface passage.

Along with the solution that will be proposed, the implementation of major interventions in the operation of the city is included, such as e.g. renovation of junctions and parking spaces in order to solve traffic problems. For this purpose, an architectural tender is being promoted by the Ministry of Infrastructure and Transport in order to highlight the coastal front of the city.

At the same time, as the same sources point out, it enlivens the port, strengthens combined transport (i.e. the railway and sea transports, cruise ships and intecity buses). According to the same information, the solution is feasible and has a secured budget of less than 200, euros, from NSRF.

The solution, if implemented, provides for the rapid maturation and execution of the projects and stops the idiosyncratic railway isolation of Patras from the country’s national railway network. It also achieves in a reasonable time the arrival of the railway in the port, giving new great development opportunities to the business community and the industrial area of ​​the city.

It is worth mentioning that the project for the connection of Patras with the modern railway, is the basis for the subsequent connection to Ilia prefecture in the south, etc.

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GEK TERNA: 1.7bn-euro backlog, strong profits and new projects

Νίκος Καραγιάννης

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Γιώργος Περιστέρης

A backlog of 1.7b euros was announced earlier today by GEK TERNA in a press release on the annual financial results for 2019, maintaining strong prospects of healthy construction activity for the coming period.

The new projects undertaken by the Group concerns -among others- the construction of the new Heraklion International Airport in Kastelli (Crete), the construction of the southern section of Kentriki Odos-E65 Motorway, the participation in the reconstruction of Tesla Airport in Belgrade (Serbia), the development of Cyprus Casino in Limassol, as well as a number of other projects both in Greece and abroad.

The construction turnover for third parties last year amounted to 679.8m euros, compared to 94m euros in 2018. Also, operating profit(adjusted EBITDA) stood at 10.9m euros compared to 32.1m euros in the previous year.

As the Group’s CEO, Mr. Giorgos Peristeris commented on GEK TERNA’s investments: “We have already launched a broad investment program of about 3b euros in the sectors of clean energy, energy storage with pumped storage hydropower, gas-fired power plants, environmental projects and waste management infrastructure, while we expect developments in new investment initiatives in which we participate, worth more than 1bn euros.”

It is noteworthy that the total power of the Group’s RES facilities in operation or under construction now reaches 2,000 MW. Investment in the clean energy sector alone reached 260m euros.

In the concessions sector, a new addition has been the concession company for the new International Airport in Heraklion, for which the concession contract was signed with the Greek State on February 21, 2019. On March 27, 2019, the Group, through TERNA Energy, put into operation Epirus Waste Treatment Unit with an average annual capacity of 105,000 tons. The total equity amounted to 767m euros.

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Tender for Crete University large PPP building project proceeds with 6 contenders

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Κτιριο, Κατασκευές, Φοιτητικές Εστίες

Six out of seven companies that have expressed their interest for the largest PPP building project of all time -regarding the construction of student dorms for the University of Crete, with an estimated cost of 255m euros (VAT incl., excl. VAT: 205.94m euros)- were qualified to the next stage of the tender.

The companies-consortia that are still in the tender are:

1. GEK TERNA, 2. AKTOR CONCESSIONS, 3. AVAX, 4. INTRAKAT, 5. J/V MYTILINEOS-ATESE and 6. ARCHIRODON GROUP NV, making THEMELI the only company that did not make it to the next phase. The tender, with University of Crete as the contracting authority, took place on February 24.

It is the first project of its kind and is expected to trigger similar projects in other university institutions in the country. It concerns the construction of new building complexes in the Univesity’s 2 Campuses in Rethymno and Heraklion.

More specifically, 2,000 student residences will be built in “Gallos” University Campus and 1,000 residences in Heraklion. A study concerning the construction of an amphitheater in Galllos Gampus -which will be used as a conference center- is also included in the project.

The next steps

The tender is held in two phases: The expression of interest opened the relevant procedure. Now, with the participation of the 6 companies, the second phase of the tender begins, where we will have two “sub-stages”.

In the Phase B1, the “competitive dialogue” takes place with the participation of bodies, contracting authority and participants, from which the final scope of the project will emerge.

In B2 Phase, the binding offers will be submitted. It may or may not be a coincidence, but the first major infrastructure project to be auctioned in the new decade will be a PPP. Crete is also emerging as a “center” of major infrastructure projects as this project comes after Kasteli Airport, VOAK Motorway and the upgrade of Chania Airport by Fraport Greece.

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