Greek construction industry insights: here are Intrakat Group’s Top-10 in-progress infrastructure projects

For the INTRAKAT Group, 2023 was a year in which its DNA “changed” as it incorporated AKTOR, one of the largest and most historic construction companies in the country.

INTRAKAT is now considered the second strongest pillar in the construction sector in Greece, with a total backlog exceeding 5 billion euros. It is currently one of the country’s strongest players. Essentially, INTRAKAT is now one of the largest employers in the technical sector, and further expansion in its activities is expected in 2024.

INTRAKAT’s activities are diverse and span both large infrastructure projects and ventures related to the energy sector, environmental projects, waste management, water supply, and water management, among others. The backlog of INTRAKAT soared in 2023, thanks to the addition of AKTOR, exceeding 5 billion euros with flagship projects, as we will see below.

Today, ypodomes.com continues its focus on the top 10 projects of Greek construction groups, presenting the major projects of INTRAKAT. Among these are the main line of the Thessaloniki Metro, the Metro extension to Kalamaria, the petroleum storage terminal in Fuziera, the Riviera Tower, the section of the Athens-Thessaloniki Highway (BOAK) from Halkidiki to Nea Moudania, contracts with the Hellenic Electricity Distribution Network Operator (DEDDE), the axis from Kalamata to Methoni, a section of the Patras-Pyrgos Highway, and projects at the 14 Regional Airports operated by Fraport Greece.

The top-10 under-construction projects of the INTRAKAT Group:

1 Construction of the Thessaloniki Metro Main Line

This is the third-largest project in the country with a budget of 1.35 billion euros. The construction of the project is carried out by AKTOR, WEBUILD, and HITACHI. The contract started in 2006, went through many challenges, but this year it has shown that it is entering the final stretch. The Thessaloniki Metro Main Line includes a 9.6 km underground line and 13 stations. It starts from the New Railway Station and reaches up to Nea Elvetia, including the Pylaia Depot. It is expected to be operational by the end of 2024. The project, anticipated to significantly contribute to improving Thessaloniki’s traffic issues, is a nominee for the PROJECT OF THE YEAR 2023 by ypodomes.com. The contracting authority is the Hellenic Metro.

2 Construction of Thessaloniki Metro Extension to Kalamaria

This is the second Metro project that AKTOR is constructing for the Thessaloniki Metro, this time without any other partners. The extension of the Kalamaria line began in 2013 and is expected to be operational by 2025. The project has a cost of 424 million euros and includes a 4.8 km underground line with 5 new stations. The extension starts from the 25th Martiou station and terminates at the Mikra station. The contracting authority is the Hellenic Metro.

3 Construction of Petroleum Storage Terminal in the United Arab Emirates (Fujairah Region)

The project, with a total budget of 382,729,700.00 US dollars, involves the construction of a new Petroleum Storage Terminal in two phases, with a capacity of 1,300,000 m3, in the United Arab Emirates. This project is carried out on behalf of the company ECOMAR STORAGE SOLUTIONS FZE.

This is a particularly significant project for the broader region, as it involves the construction of 34 new tanks according to the latest international specifications and using the most advanced materials and technology. The implementation of the project began in early August 2023, and its estimated duration is around 4 years.

4 Construction of the Riviera Tower Skyscraper in Elliniko

The 50-story tower, standing at a height of 200 meters, is set to become the tallest green multi-story building in the Mediterranean. It will feature views of the sea, luxurious apartments, and unique amenities, including a pool, gym, and spa. Located on the Athenian Riviera, the tower will offer residents stunning views of the Aegean Sea and easy access to beaches, restaurants, and cultural attractions. The project, undertaken in April 2023 by Bouygues Batiment International (60%) and INTRAKAT (40%) on behalf of ELLINIKON S.A., is expected to be completed in 2026.

5 BOAK: Hersonissos – Neapoli Section with PPP

The project constitutes a segment of the Northern Road Axis of Crete. It has been undertaken by the consortium comprising GEK TERNA, AKTOR, PARAKHORISEIS, and INTRAKAT. The project is executed through the method of Public-Private Partnership (PPP). The agreement was signed in May 2023, and the construction is expected to be completed by 2026. The contracting authority for the project is the Ministry of Infrastructure and Transport.

6 Road Axis Kalamata-Pylos-Methoni with PPP

Another road project with Intelligent Transport Systems (ITS) undertaken by INTRAKAT in collaboration with AKTOR PARACHORISEIS. The road axis Kalamata-Pylos-Methoni spans approximately 50 kilometers and is designed to feature characteristics of a high-speed traffic axis.

The cost of the project, as outlined in the Infrastructure Development Program, is 311.23 million euros for the overall upgrade of 50 kilometers from Kalamata to Methoni. The initial kilometers involve the reconstruction of the existing axis, while the majority of the kilometers pertain to the creation of a new road. The project was signed in May 2023, and construction is expected to last for 4 years.

7 Construction and Maintenance of Power Distribution Networks, DD-214 (6 Contracts) for DEDDE

The contract for the “DD-214 Construction and Maintenance of Power Distribution Networks” project, amounting to 154.76 million euros plus VAT, was signed in August 2022 between Intrakat and the DEDDE.

The project encompasses all the works related to the construction and maintenance of power distribution networks within the geographical boundaries of six Administrative Regions of the Hellenic Electricity Distribution Network Operator (DEDDE). Specifically, the areas covered are: Kallithea Attikis, the Construction and Maintenance Network Section of the Directorate of Attica Region, Eastern Thessaloniki & Polygyros Karditsa, Thiva, Livadia, and Amfissa, as well as Heraklion Attikis. The contracting authority is DEDDE.

8 Sepolia Railway Tunnel

The project for the Sepolia Railway Tunnel has been undertaken since late 2018 by the joint venture of INTRAKAT and SIDHRODROMIKA ERGA ATE. The Sepolia Railway Tunnel project involves the undergroundization of railway lines from the Athens station to the area of the Three Bridges, as well as an increase in capacity from the current 2 lines to 4 lines.

In the southern section, it will connect with the Athens railway station, and in the northern section, it will link to Agioi Anargyroi, which also operates a double tunnel. In reality, with this new tunnel, the entire urban section of the railway north of the Central Station is being undergrounded, with an underground quadruple line spanning a total length of 4.5 kilometers. The contracting authority for this project is ERGOSE, and the cost of the project amounts to 151.2 million euros.

MotorwayBOAK: Neapoli – Agios Nikolaos Section

This involves the construction by AKTOR of the first section of the Boeotia Motorway (BOAK). The Nea Poli – Agios Nikolaos section has a length of 14.5 kilometers and a cost of 186 million euros. The projects have a tight schedule up to 2026 as the funding comes from the Recovery Fund. The projects are in the early stages, and an acceleration is expected in 2024. The contracting authority for the project is the Ministry of Infrastructure and Transport.

10. Patras-Pyrgos: Karaiika-Gastouni Section

One of the most discussed and essential road projects in the country, it is the third-largest road project behind those in the southern and northern sections of the E65. AΚΤΩΡ is responsible for the construction of the Karaiika-Gastouni section. The other sections are being constructed by TERNA and AVAX.

The total cost of the project amounts to approximately 300 million euros. The works commenced on all sections in March 2022. The completion of the project is scheduled for 2025. The project is funded by the NSRF 2014-2020 and later by the NSRF 2021-2027. The contracting authority is the Ministry of Infrastructure and Transport.

The other Intrakat’s major projects

In addition to the aforementioned top 10 projects, the Intrakat Group is also involved in other highly significant infrastructure projects. For example, it has undertaken compliance works with the regulatory framework of the European Union Aviation Safety Agency (EASA) for Clusters A & B on behalf of FRAPORT GREECE, with a cost of 90.9 million euros.

Other major projects undertaken by the Intrakat Group include the road connection between the Port of Thessaloniki (OLTH) and the Industrial Area of Thessaloniki (PATHE) with a cost of 74 million euros, the Klisoura Tunnel with a cost of 71 million euros, the vertical axis Xanthi-Borders (48 million euros), flood protection projects in Thessaloniki (48 million euros), the Phase B of the Central Railway Station of Athens, electrification of the Larissa-Volos railway line, the management of Megalo Rema in Rafina, and the management of the Rema of Eschatia, among others.

Furthermore, Intrakat actively participates in almost all major tenders in the country. This includes competitive dialogues for railway projects with a total value of 4 billion euros, the BOAK (Northern Road Axis of Crete) for the Chania-Hersonissos section, the competition for the new concession period of the Attiki Odos highway, the Metro expansion towards Ilioupoli, and others.

Moreover, Intrakat has been awarded contracts in major tenders for civil engineering and technical projects (PPP), such as the construction of the General Secretariat of Infrastructure building on Piraeus Street, the Student Residences in Crete and Thessaly, the Gialova Bypass, and others.