The 20 Largest Infrastructure Projects Under Construction in Greece in 2026 – Which Regions Lead The Race

As we entered 2026, ypodomes.com presents the 20 largest infrastructure projects currently under construction, as they stand following the additions of recent months. This is a tradition that ypodomes has established for several years now.

In the list below, we will see changes compared to the one we presented at the beginning of 2025. This is to be expected, as projects evolve: some are added, while others are removed from the list. The largest infrastructure project is no longer Metro Line 4, but the Northern Road Axis of Crete (VOAK), in the Kissamos–Chania–Heraklion section.

With the 2021–2027 ESPA program underway and the Recovery Fund projects entering their final year before completion, we find ourselves in a period in which there have not been many major changes compared to 2025. What is particularly interesting this year is that most of these projects belong to the current decade, as many outstanding issues related to older projects have now been completed.

This year, based on the list that follows, it is estimated that the following projects will be completed: the E65 motorway, the extension of the Thessaloniki Metro toward Kalamaria, and Phase D of the electrical interconnection of the Cyclades.

An interesting point is that the list now also includes major private-sector projects, such as the Integrated Resort Casino (IRC) and the Riviera Tower at Ellinikon. To be more specific, private projects now account for 40% of the major projects on this list, indicating that they will play a significant role in the coming years.

Today we present the 20 largest infrastructure projects currently under construction in Greece (in terms of cost), as compiled for the first half of 2026. Their ranking is as follows:

Positions 22–21

22. Chalcis and Psachna Bypass:

Public project with a cost of €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 contracting authority is the Ministry of Infrastructure and Transport. The contract was signed in 2023. It is located in the Region of Central Greece.

21. Irrigation works of the Nestos Plain, Xanthi:

PPP (Public–Private Partnership) project with a cost of €220 million. This is the largest irrigation project in the country. It has been awarded to GEK TERNA. The contracting authority is the Ministry of Rural Development. The contract was signed in 2025. It is located in the Region of Eastern Macedonia and Thrace.

Positions 20–16

20. Ellinikon Infrastructure Works:

Private project with a cost of €250 million. These are infrastructure development works within the Ellinikon investment. They include the construction of utility networks, roads, flood protection and remediation works, as well as the undergrounding of Poseidonos Avenue over a length of 2.5 km. The project is being constructed by AVAX. The contracting authority is Lamda Development. The contract was signed in 2022. It is located in the Region of Attica.

19. Kalamata–Pylos–Methoni Road Axis:

PPP project with a cost of €312 million. This major PPP project is being implemented in Messinia and will significantly improve road safety in the wider area. It is considered the natural extension of the Moreas motorway. Construction is being carried out by the AKTOR Parachoriseis–AKTOR Group consortium. The contracting authority is the Ministry of Infrastructure and Transport. The contract was signed in 2023. It is located in the Region of the Peloponnese.

18. Electrical Interconnection of Serifos–Milos–Santorini–Folegandros:

Public project with a cost of €328 million. This is a dual project that will interconnect four Cyclades islands with the mainland electricity system. Completion is estimated for the end of 2024. Construction is being carried out by Hellenic Cables and Prysmian. The contracting authority is IPTO (ADMIE). The contract was signed in 2023. It is located in the Regions of Attica and the South Aegean.

17. Bralos–Amfissa Road Project:

Public project with a cost of €334 million. It is part of the diagonal axis Lamia–Itea–Antirrio. Completion is scheduled for 2027. The project is being constructed by AVAX. The contracting authority is the Ministry of Infrastructure and Transport. The contract was signed in 2023. It is located in the Region of Central Greece.

16. Riviera Tower:

Private project with a cost of €350 million. This is the tallest building project in the country and is located within the Ellinikon development. It is being constructed by the AKTOR–BOUYGUES consortium. The contracting authority is Lamda Development. Completion is estimated for the end of 2026. The contract was signed in 2023. It is located in the Region of Attica.

Positions 15–11

15. VOAK (Northern Road Axis of Crete): Hersonissos–Neapoli Section:

PPP project with a cost of €360 million. This is the central section of the motorway, with a length of 22 km. It is being constructed as a PPP by the GEK TERNA–AKTOR–AKTOR Group consortium. The contracting authority is the Ministry of Infrastructure and Transport. Completion is estimated for 2027. The contract was signed in 2023. It is located in the Region of Crete.

14. Ionian Motorway: Ioannina–Kakavia Section:

Public project with a cost of €386 million. One of the very large projects expected to be completed in 2029, the Ioannina–Kakavia road project is expected to contribute to increased traffic flows, as it completes the Ionian Motorway stretching from Antirrio to the Kakavia border crossing. At the same time, a significant improvement in road safety is anticipated, while it will also connect Greece with Albania. The works have been undertaken by AVAX on behalf of the Ministry of Infrastructure and Transport. The contract was signed in 2024. It is located in the Region of Epirus.

13. Alexandroupoli Power Generation Plant:

Private project with a cost of €400 million. Another major energy project in the region of Thrace. The project is being implemented by the PPC–DEPA Commercial consortium. It is a natural gas–fired power plant. The contract was signed in 2024 and completion is expected by the end of 2026. It is located in the Region of Eastern Macedonia and Thrace.

12. Thessaloniki Metro: 25th March–Mikra Branch:

Public project with a cost of €434 million. The project is at an advanced stage of construction. It is estimated to enter operation at the end of February 2026, and with this addition, a first small network for the Thessaloniki Metro will be achieved. It includes 4.8 km of twin underground tunnels and five new stations. Construction is being carried out by AKTOR, while some minor electromechanical contracts are also underway. The contracting authority is Elliniko Metro. The contract was signed in 2013. It is located in the Region of Central Macedonia.

11. Three Hospitals – Stavros Niarchos Foundation:

Private project with a cost of €442 million. In early August 2023, the contract was signed for the construction of the General Hospitals of Komotini and Sparta, and the Thessaloniki Children’s Hospital. This is a donation by the Stavros Niarchos Foundation through a memorandum of understanding signed with the Ministry of Health. It is the largest investment in healthcare infrastructure made in many years. Construction has been undertaken by AVAX, with completion scheduled for early 2027. The projects are located in the Regions of Eastern Macedonia and Thrace, Central Macedonia, and the Peloponnese.

The 10 Largest Projects in the Country

10. Northern Section of the Central Greece Motorway (E65) Trikala–Egnatia:

Public project with a cost of €442 million. This is an ongoing project that completes the E65 motorway in its entirety, from Lamia to the Egnatia Motorway. According to the schedule, it is expected to be completed around April 2026. Construction is being carried out by TERNA. The contracting authority is the Ministry of Infrastructure and Transport. The contract was signed in 2021. It is located in the Regions of Thessaly and Western Macedonia.

9. Railway Restoration Works in Thessaly:

This is a package of five projects for the restoration of damage caused by the Daniel and Elias natural disasters, with a total cost of €462 million. The projects will be completed gradually from 2026 to 2027. They are being implemented in the Regions of Thessaly and Central Greece and include the following contracts:

• a) Restoration of the double-track Athens–Thessaloniki railway line, from the exit of the Domokos railway station (km 288+600) to the entrance of the Krannonas railway station (km 328+840), following storms “Daniel” and “Elias”, with a budget of €173,600,000 (incl. VAT). Contractor: METKA, with a 4% discount.
• b) Restoration of the single-track Palaiofarsalos–Kalambaka railway line, in identified sections of the line, following storms “Daniel” and “Elias”, with a budget of €57,660,000 (incl. VAT). Contractor: AVAX, with a 4.10% discount.
• c) Restoration of the single-track Larissa–Volos railway line, following storms “Daniel” and “Elias”, with a budget of €181,660,000 (incl. VAT). Contractor: AKTOR, with a 4% discount.
• d) Restoration of signalling, ETCS Level 1, traffic control and electrification systems on the double-track railway section from Palaiofarsalos station (km 296+245) to Krannonas station (km 336+330), which was destroyed by storm “Daniel”, with a budget of €37,200,000 (incl. VAT). Contractor: ALSTOM, with a 4.2% discount.

8. Thessaloniki Ring Road Flyover:

PPP project with a cost of €480 million. The PPP project is now in full progress and is expected to be operational in 2027. It has been undertaken by the AVAX–METLEN consortium. The contracting authority is the Ministry of Infrastructure and Transport. Once operational, it will significantly increase the capacity of the Thessaloniki Ring Road, helping to alleviate traffic congestion. The contract was signed in 2022. It is located in the Region of Central Macedonia.

7. The Ellinikon Mall:

This concerns a new shopping mall that has been under construction since July 2025 and, upon completion, is expected to be the largest and most modern shopping center in Greece. Full operation is anticipated by the end of 2028. The mall is located on Vouliagmenis Avenue, at the eastern edge of the Ellinikon area, and forms part of the broader urban regeneration project. It will cover approximately 100,000 sq.m. and will include around 280 stores, hosting leading Greek and international brands. The project developer is Lamda Development and the contractor is TERNA. It is located in the Region of Attica.

6. Amfilochia Pumped Storage Power Plant:

Private project with a cost of €650 million. It is being implemented by TERNA Energy and is at an advanced stage of construction, with completion estimated in 2026. The “Amfilochia Pumped Storage System” project represents the largest investment in energy storage infrastructure in Greece. With a total installed capacity of 680 MW (generation) and 730 MW (pumping), it includes two independent upper reservoirs (Agios Georgios and Pyrgos, with capacities of approximately 5 million and 2 million cubic meters respectively), while using the existing Kastraki Lake of PPC as the lower reservoir. Estimated annual energy production is approximately 816,000 GWh. The contract was signed in 2023. It is located in the Region of Western Greece.

The 5 Largest Projects in the Country

5. Road Restoration Projects in Thessaly:

A package of five public projects with a total cost of €900 million. These concern the following contracts, which were signed in spring 2025 and will be completed gradually within 48 months. The projects are being implemented in the Regions of Thessaly and Central Greece.

Restoration works in the Municipalities of Zagora–Mouresiou, South Pelion, Volos and Rigas Feraios, with a budget of €278.2 million. Contractor: TERNA, with a 5% discount.

Restoration works in the Municipalities of Argithea, Plastiras Lake, Meteora and Pyli, with a budget of €267.5 million. Contractor: TERNA, with a 5% discount.

Restoration works in the Municipalities of Tempi, Tyrnavos, Elassona, Agia, Larissa, Farkadona, Kileler, Palamas, Mouzaki, Trikala and Karditsa, with a budget of €184 million. Contractor: AKTOR, with a 4.80% discount.

Restoration works in the Municipalities of Istiaia, Mantoudi, Domokos, Lamia, Almyros, Farsala and Sofades, with a budget of €170 million. Contractor: AVAX, with a 4.90% discount.

Restoration works in the Regions of Thessaly and Central Greece, with a budget of €19.5 million. Contractor: INTRAKAT.

4. New Heraklion Kastelli Airport:

Concession project with a cost of €1 billion. Construction is at an advanced stage, with progress exceeding 40%. From 2026, completion and the start of trial operations are expected. Full completion and operation are estimated for 2027. The project is being constructed by TERNA on behalf of the TERNA–GMR consortium. The contracting authority is the Ministry of Infrastructure and Transport. The contract was signed in 2019. It is located in the Region of Crete.

3. Integrated Resort Casino:

Private project with a construction cost of approximately €700 million. Construction officially began at the end of 2023 for the Integrated Tourism Complex with a casino at Ellinikon. The total investment amounts to €1.5 billion, of which construction and equipment are estimated at around €1 billion. Construction has been undertaken by TERNA, while the investment consortium consists of GEK TERNA and Hard Rock International. This project is currently the largest building project of all time in Greece. It is located in the Region of Attica.

2. New Line 4 of the Athens Metro:

Public project with a cost of €1.8 billion. This is a project that will be underway for many years. It is funded by the 2014–2020 ESPA program and the European Investment Bank, as well as the 2021–2027 ESPA program. According to the timetable of the contract signed in June 2021, completion is expected in 2029. Construction is being carried out by the AVAX–Ghella–Alstom consortium. The contracting authority is Elliniko Metro. The contract was signed in 2021. It is located in the Region of Attica.

1. VOAK – Chania–Heraklion Section (€2.05 billion)

The project was signed last April and is now the largest infrastructure project currently under construction in Greece. It αφορά the upgrade of the Chania–Heraklion section, with an option included for the upgrade of the Chania–Kissamikos section. In total, 187 kilometers of a closed-access motorway will be constructed.

The project contractor is GEK TERNA, with construction being undertaken by TERNA. The duration of the works is estimated at five years, with completion scheduled for 2030.

Shift in Project Dominance

What we observe at this point in time is that the dominant large projects in Greece are on stable tracks (railway and Metro projects), road projects, as well as significant energy projects.

Over the next 12 months, this list is not expected to change drastically, as a few projects will be completed, while others are expected to enter the list. New and highly anticipated projects likely to start include the government park at PYRKAL, the Alexandroupoli–Ormenio railway project, the Skaramagas Triple Interchange, among others.

Overall, this year has seen significant reshuffling in the ranking of major projects, with pluralism now a defining feature—covering large Metro projects, building projects, energy projects, as well as road infrastructure.

Additionally, the presence of many energy projects is being strengthened, as they take the lead as the most important projects for enhancing Greece’s role on the geopolitical stage. At the same time, large railway projects are notably absent.

Which Projects Entered the List – Which Exited

In this year’s TOP-20, one major project entered the list: the road and railway restoration projects in Thessaly, as well as The Ellinikon Mall in Ellinikon.

On the other hand, projects completed this year include the Power Generation Unit in Komotini and the Patras–Pyrgos Motorway.

You can explore more details on nearly 120 of the largest ongoing projects in Greece, collected in the 2026 Major Projects Catalog, by clicking here.

For more details and the complete article in Greek, click here