Wednesday September 3, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Construction firms take fresh interest in projects in Greece

By Nikos Roussanoglou

The country’s major construction groups are gradually turning their attention back to the local market as they look forward to big project contracts with the Greek state, including Crete’s new airport at Kastelli, Iraklio, as well as smaller projects concerning highways. At the same time they have been strengthened by contracts that have recently been secured abroad and which form a major part of their activity.

Sector officials say that most companies are turning toward the Greek market as profit margins at home are much bigger than abroad, where the cost of borrowing remains particularly high despite Greece’s successful return to the bond market. They add that the need to complete works on major highways within the next 18 months dictates where the construction firms’ priorities should lie and that they will have to accelerate their activity in this direction.

Besides Iraklio’s new airport, domestic groups are anticipating tenders by state railway project coordinator ERGOSE to complete the upgrading of the country’s railway network, as well as tenders for highway projects such as that for the national road linking Patra with Pyrgos, budgeted at 350 million euros, and works to finish off the Proastiakos suburban rail network.

Over the last few years the big construction companies have been living off the proceeds of contracts secured in other countries, with projects abroad accounting for almost half of their planned activity. Such is the case for both Ellaktor and J&P Avax, which have undertaken a series of new projects in the Persian Gulf since the start of the year.

A few weeks ago Ellaktor signed the biggest deal a Greek constructor has ever secured abroad with its 32 percent stake in the consortium that has undertaken the 3.2-billion-euro Gold Line Underground project for the Doha subway in Qatar. J&P Avax has also signed a number of new contracts for projects in Qatar as well as for the second stage of construction of Jordan’s new international airport. The projects are budgeted at 1.22 billion euros and J&P Avax’s participation is estimated at 322 million euros.

GEK Terna has also managed to add to its planned projects, which grew by 2.7 billion euros within 2013, although its foreign-based share is just 15 percent given that most projects are in Greece.

ekathimerini.com , Tuesday May 13, 2014 (22:52)  
Helexpo sell-off plan to be ready by mid-October
Maniatis talks energy with Washington’s man in Athens
Task force to examine cases of extreme taxation, customs issues
Hotels hike prices by 10 pct in H1 of 2014
Report points to suspicious clinic charges to EOPYY
A quarter of all the expenses submitted last year by private health clinics to EOPYY, the country’s largest healthcare provider, have been deemed suspicious and in need of further investigat...
New rector seeks to introduce ID checks at University of Athens
One day after his swearing-in ceremony was marred by protests against budget cuts and the expulsion of thousands of so-called eternal students, the new rector at the University of Athens, Th...
Inside News
Grateful Saviola thanks Olympiakos, joins Verona
Former Argentina international Javier Saviola has thanked Greek champions Olympiakos for the "beautiful moments" during his season-long stint in Greece as he left the club to join Serie A ou...
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the people’s favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Helexpo sell-off plan to be ready by mid-October
2. Maniatis talks energy with Washington’s man in Athens
3. Task force to examine cases of extreme taxation, customs issues
4. Hotels hike prices by 10 pct in H1 of 2014
5. Pension system nears breaking point
6. Report points to suspicious clinic charges to EOPYY
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
4. New committee formed to assess progress of deregulation in closed-shop professions
5. Moderating expectations
6. Greece needs private debt overhaul, Piraeus Bank CEO says
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Strong undersea quake occurs off island of Milos, felt in Athens
4. Hardouvelis, ECB executive discuss bank program, stress tests
5. Greek quest for debt relief faces hurdles in Paris
6. Prospect of Greek grand prix back on the agenda; huge investment needed
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.