ECONOMY

GEK-TERNA in home stretch for opera deal

Barring any last-minute problems, construction group GEK-TERNA will land the country?s biggest private project, the construction of the new Greek national opera house at Palaio Faliro, southern Athens, on the site of the old horse racing track.

According to sources, the consortium comprising the Greek firm and Italy?s Impregilo has been selected as the temporary contractor for the project, budgeted at 566 million euros.

In the next few days, the Stavros Niarchos Foundation, which is funding the project, will invite the winning consortium to start negotiations for the signing of the contract, which is expected to see works beginning by the end of this year and a possible conclusion in 2016.