Construction companies: Concessions boost their revenue
By Teti Igoumenidi
Concession contracts are now a key pillar for large construction groups, and this was also evident in the developments that occurred on Olympia Odos.
The motorway that connects Athens with Patras and will soon reach Pyrgos (the Patras – Pyrgos section will be completed in 2025) was valued at 591 million euros, in order for Hochtief to withdraw from the consortium. Its share (17%) was purchased by the other 4 participants in the Olympia Odos concession for 100.5 million euros.
Vinci Concessions increased its stake in Olympia Odos from 29.9% to 36.03%, Avax Concessions from 19.1% to 23.01%, while Aktor Concessions (Ellaktor Group) and GEK Terna each increased their stake from 17% to 20.48%.
GEK Terna, Aktor (formerly Intrakat), Avax and Metlen have been "present" in all tenders for concessions over the last years and it is estimated that agreements are likely to be made, e.g. for the entry of some of them into the largest concession that will be signed in the near future and concerns the Northern Road Axis of Crete (VOAK).
The VOAK concession is heading to the portfolio of GEK Terna, which made the highest offer, as has already happened with the new Attiki Odos concession.
In 2025, the Egnatia Odos will also pass to GEK Terna (75% of the concession, with 25% belonging to EGIS Projects).
GEK Terna has the largest concession portfolio, while it should be noted that for Attiki Odos and Egnatia alone, its offers totaled 4.7 billion euros.
Mineral wealth is national wealth
Mineral wealth and its utilization, both in the context of mining exploitation and after its completion, were the main topics of the event organized in Lavrio by the Association of Mining Enterprises (SME) for the centenary of its establishment.
Aristotelis Aivaliotis, Secretary General of Energy and Mineral Resources, emphasized that "the responsibility and constitutional obligation of the State is to ensure the rational utilization of mineral wealth, which constitutes national wealth." He added that "the indiscriminate or unconsidered rejection of mineral wealth is certain to act as a future national loss with unforeseen consequences for ensuring the country's development path."
"The Greek subsoil is rich in mineral resources, while the country has significant human resources and know-how for their further exploitation," noted Kostas Giazitzoglou, president of the Association.
According to Giazitzoglou, if the obstacles are removed, the prospects are very positive. Focusing on Europe's mining policy, the president of the Association added that it is a time of intense geopolitical turmoil, with the European Union almost completely dependent on third countries for most critical raw materials. Under these circumstances, any effort to bridge the gap, even if delayed, cannot be based simply and solely on steps to reduce bureaucracy.
Regarding the promotion of Greece's mining heritage, Aivaliotis emphasized that "we look forward to the preservation and promotion of this mining heritage at a national level, while developing alternative uses in the former mining areas."
（Editor:Liao Yifan）
