Construction basks in a new golden era
INTENSE ACTIVITY IN ROADS, BUILDINGS AND RELATED INFRASTRUCTURE HAS ALLOWED MAJOR PLAYERS TO EXPAND AND FLEX THEIR MUSCLES OVERSEAS

AKTOR is involved in just about every building project related to the Olympics, and is also looking to expand geographically.

The construction sector in Greece is booming. The country is working flat out to prepare the ground for the world’s biggest sporting event, the Olympic Games, when it comes home in 2004.

For the big construction companies of Greece, now is their golden era. As well as the development of sporting amenities and facilities for the Games themselves, there is intensive activity in the building of new roads, buildings and related infrastructure to support the prestigious event. European development funds are also paving the way for big ticket infrastructure projects, independently of the Olympics.
One of the country’s big hitters in the construction stakes is Athens-based Aktor. In 1999, the company joined forces with several other local players, Elliniki Technodomiki, TEB and Kambas Real Estate, to become the largest construction group in Greece. It is now a major European operator and a force to be reckoned with.

Aktor itself is involved in just about every infrastructure project related to the Olympics, but is looking to expand geographically after 2004. It is also the main contractor in the 11-strong Attiki Odos consortium, one of the largest build-operate-transfer highway projects in Europe. It is currently building the modern six-lane toll highway stretching over 42 miles that will form the Athens peripheral ring road. The scheme is funded by the Greek state, the EU as well as private financing from the consortium partners.

DIMITRIS KOUTRAS Chairman of Attiki Odos and President of Aktor

Dimitris Koutras, President of Aktor and chairman of the Attiki Odos consortium, says that the merger in 1999 provided a step up into the big leagues.
“The merger between the companies was a necessity because our size now means that we are capable of dealing with any aspect of the Greek market,” he says. “We chose to cooperate with Elliniki Technodomiki and TEB because they complemented our business. Aktor had great experience in infrastructure works and Elliniki Technodomiki had experience in buildings. We now have a very strong economic base so that we can compete with any other European company.”
Times are certainly good for Aktor. Sales increased substantially during 2001 to around $217 million, a jump of some 191 percent on the previous year. It was the fifth consecutive year of sales increases for the company. Since 1996, total sales have gone up a staggering 1,942 percent, a phenomenal track record. The company currently employs around 669 staff.
Mr. Koutras says that the Attiki Odos project has been a good test of the company’s management skills, ability and resourcefulness.
“Attiki Odos has been a tough project because it involved building within the city of Athens with its four million inhabitants and four thousand years of history,” he says. “The digging process has involved many archaeological discoveries.”
When the project is finally completed, he believes it will transform the traffic flow in and around the Greek capital city and help to reduce pollution levels.

A DREAM will be fulfilled in 2004 with the completion of the Rion Antirion Bridge across the Corinth Strait by the Gefyra consortium.

“Attiki Odos will have a major effect on Athens as it will attract much of the traffic away from downtown, it will minimize travel time and ensure that Athens is more environmentally friendly as fuel consumption will be lower due to higher speeds,” he says. “Athens will also have less smog enabling us to enjoy the blue sky.”
After 2004, the outlook for many of Greece’s construction firms is a lot less certain. It means that dynamic companies like Aktor are taking action now to secure future growth.

Mr. Koutras says that the company is keen to pursue opportunities outside of Greece, not only in the rest of Europe, but also in the Middle East. He says efforts are already being made to undertake projects overseas, especially in conjunction with foreign contractors. It has already worked in successful partnerships with foreign firms in the domestic market. “American companies are showing a greater interest and we hope to do business with some of them,” he says.
In the long-run, Aktor is looking to capitalize on its well-rounded expertise in all areas of the construction process.
“Our goal is not to grow but to optimize our capabilities so we get the best return on our investment,” says Mr. Koutras.

Another longstanding dream will become reality in 2004 when the Gefyra consortium completes the Rion Antirion Bridge across the Corinth Strait, linking the Peloponnese to mainland Greece. The cable stay bridge will be a 1.4 mile continuous hanging deck with no joints or breaks between the viaducts on either side. A few light seismic movement dampers at each pier will be the only connections.
The three central spans of the bridge will each be 1840ft and back spans 940ft. These join approach viaducts of 1250ft on the south and 750ft on the north Antirion side. The deck will be composite steel and concrete box 25m wide supporting a dual two-lane highway.
Ferries have done good business here for centuries, but plans for a western highway linking the port of Igoumenitsa to the south require increased crossing capacity. The road will join the new PATHE highway connecting the Peloponnesian port of Patras to Athens and the north-east.