Energy projects and transport infrastructure (road and railway) cover 88 pct of the budget of 69 big infrastruture investments currently underway or scheduled for the next five years (up to 2022), while tourist and waste management cover the remaining 12 pct of investments, totaling 21.4 billion euros, a survey by Pricewaterhouse Coopers said recently.
The survey noted, however, that Greece presented a significant gap in infrastructure investments, which fell to 1.1 pct of GDP in 2016 because of the crisis, from 3.7 pct in 2006. This decline in infrastructure investments is estimated at an accumulated 62 billion euros and had negative consequences on employment and the economy in general.
The survey said that in the 2014-2017 period a total of 16 infrastrucure project were completed with a budget of 2.0 billion euros, of which 67 pct were large road network projects.
The 69 scheduled infrastructure projects to be completed by 2022 have a remaining budget of 21.4 billion euros, of which 34 (or 36 pct of budget) are currently in planning stage and 35 projects (64 pct of budget) are currently underway. A 25 pct of infrastructure projects, worth 2.9 billion euros are scheduled to be delivered in 2017.
From the 69 projects, 30 cover roads and ports, 15 are energy, 10 railway and 10 waste management.
The energy sector include significant projects, such as the TAP natural gas pipeline, the LNG terminal in Alexandroupoli and expansion of an existing terminal in Revithousa, a lignite electricity power unit in Ptolemaida, underwater interconnection of Cyclades islands and Crete with the main electricity grid.
In the railway sector, projects include expansion of the Athens Metro and the Thessaloniki Metro, expanding the tram service to Piraeus, completing a railway hub in Thriasio and upgrading OSE’s main network.
In the tourism sector, projects include upgrading regional airports, ports and marinas, a new airport in Casteli and investments in infrastructure and equipment in Thessaloniki port.