Newsletter July,2021,07


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Greece launches two new major public works projects

Work is beginning on two new major public works projects – one in Athens, one in the center of the country – that will help transform Greece’s economic prospects and are a key part of the country’s €13 billion infrastructure upgrade.

Late last month, the Transport Ministry signed a contract for the construction of a new 13 kilometer, €1.2 billion subway line for Athens. And a day later, the Ministry signed a €442 million contract for a new highway connecting the central plain of Thessaly with the Egnatia Motorway in the north of the country.

In the last 10 years, Greece has invested almost €9 billion in various infrastructure projects, mostly to upgrade the country’s road network, according to a recent PwC report. Billions of euros more are now being invested to further upgrade road and rail networks, the power grid, as well as port and airport facilities across the country.

First planned in 2005, Line 4 of the Athens Metro will help revitalize some of the most densely populated areas in the center of the city, serve more than 300,000 residents and ultimately create between 5,000 and 10,000 jobs. The new line will include 15 new subway stations and is expected to take eight years to complete.

The northern extension of the E-65 highway running through central Greece will provide a direct 70.5 kilometer link for Thessalian farmers with the northwestern Greek port of Igoumenitsa. This will dramatically reduce travel times for Greek farm exports to key markets in western Europe.

Statistics Source: PwC