The Ten largest infrastructure projects signed so far from the beginning of 2023 have concerned us many times in the past as they are important projects. Many of these projects concern sought-after projects that have preoccupied the construction industry and local communities for years. The majority of them concern road projects in the regions of Crete, Central Greece and the Peloponnese. We can also distinguish projects in airports, energy projects, sports and building construction. What are these ten projects?
No. 10: Ioniko kentro
It is a project worth 39.5 million euros (including VAT) which was signed on January 11, 2023. The Contracting Authority is the Urban Non-Profit Company “Ioniko kentro”. The project is carried out by TERNA. It has a completion period of 35 months and scheduled delivery in December 2025. The object of the project is the study-construction for the new Cultural Center as a Conference – Cultural Youth Center. The Conference-Cultural Center is being developed in underground and above-ground areas, with a total area of approximately 3,300 sq.m.
No. 9: Paros airport upgrade
It is a project worth 46 million euros (including VAT) which was signed on January 11, 2023. The Contracting Authority is the Ministry of Infrastructure and Transport. The project is executed by INTRAKAT with a discount rate of 10.54%. It has a completion period of 30 months and scheduled delivery in July 2025. The scope of the project is the construction of a new terminal, extension of the parking floor and a new control tower.
No 8: Road Axis Nemea-Mykines
It is a project worth 47.1 million euros (including VAT) which was signed on April 21, 2023. The Contracting Authority is the Region of Peloponnese. The project is carried out by ELLINIKI HYDROKATASKEVI with a discount rate of 21%. It has a completion period of 24 months and scheduled delivery in April 2025. The scope of the project is the construction and improvement of the last 7.015 km connecting section of the new Provincial Road no. 19a, “Tirynthas (from Nafplio National Highway) – Archaotites Heraiou – Neo Heraio – Monastiraki – Mykines”, with the “Corinthian – Tripoli” highway at the junction of Ancient Nemea.
No. 7 New Stadium of Panathinaikos
It is the newest project on our list. The construction contract for the new Panathinaikos stadium was signed on Friday 19 May between the Municipality of Athens and the TERNA-AKTOR-MYTILINEOS consortium. The cost amounts to an amount including VAT of 123 million euros and concerns the largest sports infrastructure in the country. Its completion is set for the summer of 2026. It will be erected in the Votanikos area and is part of the Votanikos-Alexandra Double Redevelopment. The capacity of the stadium may even reach 40,000 seats.
The project will be implemented using the study-build method. The project is financed for an amount of 115 million euros from the Public Investment Program (one of the largest proportionate amounts given for the creation of an infrastructure) and for an amount of 8 million euros from the Recovery Fund. Essentially, the PIP will cover the construction of the stadium and the Recovery Fund the urban regeneration of the former industrial area of Votanikos / Eleonas – Projects of landscaping and common areas in the area of Double Redevelopment and the Naval Fort in the area of Eleonas.
No. 6: Bypass Chalkida and Psachni
One of the Ten biggest infrastructure projects signed in 2023 is this major road project. It is a project worth 210 million euros (including VAT) which was signed in March 2023. It is the biggest infrastructure project of the last decades for Evia. The Contracting Authority is the Ministry of Infrastructure and Transport. The project is carried out by MYTILINEOS. It has a completion period of 48 months and scheduled delivery in March 2027.
The object of the project is the complete design and construction of:
1) Of the section of highway section a4vs: N. Lampsakos – Vathrovouniou Tunnel. It is noted that from Km position. 4+960 until Km p. 5+400 the above standard highway cross-section (α4νσ) is adjusted to a standard cross-section of two traffic lanes β2σ, which is applied for the entire remaining road axis,
2) Of the arterial section of the closed type cross-section β2σ: Vathrovouniou Tunnel – Psachna.
3) Of the sections of option a) the section before Nea Lampsako, towards Chalkida / High Bridge, i.e. the section “A. K. Schimatariou – Nea Lampsakos”, approximately 4.0 km long, b) the section of the Psachni bypass and c) the section of the North-South Evia connection artery that connects the uneven junction Liani Ammos of the Chalkida bypass with the road network to southern Evia.
No 5: Lamia-Itea-Antirrio axis: Bralos-Amfissa section
It is a project worth 285 million euros (including VAT) which was signed on February 16, 2023. The Contracting Authority is the Ministry of Infrastructure and Transport. The project is carried out by AVAX. It has a completion period of 54 months and scheduled delivery in August 2027.
The objective of this contract is the study and construction of the improvement projects of the Lamia-Itea-Antirrio road axis and the tender for the Bralos-Amfissa section. This section is divided into sub-sections: -1st Sub-section: Bralos – Gravia Bypass Authority
-2nd Sub-section: I.K. Bauxite Mines – Amfissa. The objective of the contract includes the construction of a number of level junctions, as well as a network of parallel and vertical secondary roads to connect with the rest of the existing road network and to serve secondary uses.
No 4: Road Axis: Kalamata-Pylos-Methoni
This is the third largest budget project signed to date for 2023 amounting to 312 million euros (including VAT) which was signed on April 21, 2023. The Contracting Authority is the Ministry of Infrastructure and Transport. The project implements the AKTOR CONCESSIONS-INTRAKAT concsortium. It is implemented using the PPP method and has a completion period of 30 years, of which the first 4 years are for the construction period.
The object of the partnership agreement is the execution of the project “Study, construction, financing, operation and maintenance of the road axis of Southwest Peloponnese, section Kalamata – Rizomylos – Pylos – Methoni, with PPP”. The repayment of the final amount will be made with fixed availability payments from the Greek State.
No 3: Serifos-Milos-Santorini-Folegandros Electric Interconnection
This is the second largest budget project signed to date for 2023 amounting to 328 million euros (including VAT) which was signed on February 16, 2023. The Contracting Authority is ADMIE (ipto). The project is being carried out by contractors Hellenic Cables and Prysmian. It has a completion period of 20 months and completion in October 2024.
The scope of the project includes two 150kV submarine cable lines: SECTION A: Lavrio – Serifos – Milos, SECTION B: Milos – Folegandros-Thira.
Phase IV of the electrical interconnection of the Cyclades completes a complex and ambitious project aimed at the energy integration of the island complex into the continental system, with benefits both for the islands and for the national economy in general.
No. 2 Riviera Tower
It concerns the construction of the largest building project in the country to date. It will be the first green skyscraper in the Southeast Mediterranean and one of the most emblematic projects in Hellinikon investment. Lamda Development signed with the INTRAKAT-VOUYGUES scheme for its construction on May 4, which is expected to be completed in 2026. The 200-meter high seafront residential tower of the large redevelopment of Elliniko has been designed by the internationally renowned architectural firm Foster+Partners. .
No. 1: VOAK: Hersonissos-Naples section
Of the Ten Biggest Infrastructure Projects Signed in 2023, this is the biggest. This is the largest budget project signed to date for 2023 amounting to 359 million euros (including VAT) which was signed on April 23, 2023. The Contracting Authority is the Ministry of Infrastructure and Transport. The project implements the scheme GEK TERNA-AKTOR CONCESSIONS-INTRAKAT. It is implemented using the PPP method and has a completion period of 30 years, of which the first 4 years are for the construction period.
The object of the partnership agreement is the execution of the project “Northern Road Axis of Crete – Study, construction, financing, operation and maintenance of the section “Hersonissos – Neapoli”, with PPP”. The repayment of the final amount will be made with fixed availability payments from the Greek State.
These are the ten largest infrastructure projects that have been signed in 2023. By the end of the year this list is expected to change as we await the entry of new projects such as the Kymi Avenue Extension, Ioannina-Kakavia etc.
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