The country’s largest construction conglomerates are putting more and more weight on ongoing privatizations as public projects seem to procrastinate and would require great amounts of patience throughout 2017.
Privatizations though are proceeding with a spirited rate along with their “construction leg” in several cases such as: Astir Vouliagmeni, regional airports, Cassiope, Afantu, Thessaloniki Port, Egnatia etc.
The projects
What is prioritized at the moment is the restoration of Astir Vouliagmeni, a 200mn-euro project which is expected to attract the interest of many companies. The contractor could be decided as soon as February.
In March 2017, the grand plan for the upgrade of 14 regional airports, under Fraport management, with an estimated budget of 400mn euros, is also commencing. Intrakat holds undoubtedly the best deal, as it participates in the project as a “nominated contractor”. Nevertheless, more sub-contractors are expected to enter the project in the forthcoming stages (with Redex probably included).
After the final signatures finalizing its concession, Cassiope resort in Corfu, an 100mn-euro investment by NCH Capital Inc. is expected to start immediately including extensive construction works.
The property covers an area of roughly 121 acres with more than 50% of which being a private forest along with a small, natural lake. The coastline of the property is 725 meters while 7% of the property is subject to building restrictions dictated by the national Strategic Environmental Assessment.
Constructors are also eyeing upcoming privatizations in Thessaloniki Port (which comes with an additional investment of 180mn euros), Egnatia Motorway with the rumored “rivals” being AKTOR and TERNA for 1,000 km of motorway which is also interconnected with other, already conceded motorway networks under their management (Aegean Motorway-AKTOR, E65 and Ionian Motorway-TERNA).
Afantou in Rhodes island is another promising, touristic investment unfulfilled for many years now that is considered to transform the surrounding area and last but not least, Hellinikon, a mega-project that will start in 2018, when all pending issues will be finally resolved, allowing the first 2bn euros to go through, for infrastructure works over a period of 5 years. Let’s see…
Nikos Karagiannis-ypodomes.com
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