Plans afoot to boost ailing construction

Government plans to foster investment in EU-backed infrastructure projects as a means of helping boost employment growth will give momentum to the construction sector, brokerage National P&K Securities said in a note yesterday. The brokerage said companies such as Hellaktor, J&P Avax, GEK-Terna will be the winners from the expected increase in building activity, as it placed an «outperform» rating on the sector. The government is also expected to increase the number of private-public partnerships and resume outstanding payments to the sector, totaling 1 to 1.5 billion euros, opening the path for the next round of infrastructure spending, added P&K. A government pledge to speed up licensing procedures for renewable energy sources may benefit companies such as Terna Energy and Ellaktor, it added. Construction stocks on the Athens bourse have added 51.6 percent in the last six months, outperforming a 48.3 percent rise in the broader market.