No Match Found
Funding the future
Greek Infrastructure projects pipeline amount to € 43.4bn, mainly due to the addition of new high projects in the preparation phase
Global infrastructure needs are expected to reach around $77trln by 2040 and Greece ranks 37th globally and 18th among the EU countries in terms of infrastructure quality.
Infrastructure in Greece has been severely affected by the deep recession. Total value of infrastructure projects has decreased by as much as 31% after 2009 but has rebounded since. There is an infrastructure investment gap of about 0.8pp of GDP (against the European average) translating into an average spending shortage of € 1.5bn per year.
There are 20 Energy projects that take up more than half (58%) of the pipeline budget. € 13.7bn are earmarked for energy interconnection projects (TAP, IGB,Ariadne,EastMed, EuroAfrica), while € 11.2bn are scheduled for electricity generation (Wind and solar parks, Power plants). The average cost per new MW installed is about € 1 mn
Waste management and water supply account for the minority of the infrastructure backlog, as 25 projects account for just 3.6% of the remaining budget. The average budget of waste management projects amounts to €62.4mn per project and only 3 ??? are scheduled to be completed in 2020
4.2% of the remaining budget, or around € 1.8bn, have been scheduled for the upgrading of the tourist product, which includes the upgrading of vital ports and airports as well as marinas. However, the majority of tourism upgrading projects are not yet planned.
Motorways investment pipeline is about € 6bn, or about 14% of the remaining backlog, and most of the projects are still in the designing phase. The total motorway kilometers of planned and in progress projects in Greece amount to 1,184 km, of which only 9% has already been constructed. The average cost of motorway construction in Greece is € 4.7mn per km
There are 24 rail projects that cover 20% of the remaining budget. Urban rail interconnections (Attiko Metro, Tram, Metro Thessaloniki), are the main part of the total rail investment and account for € 5.3bn of the remaining rail budget, while the remaining budget for regional rail projects amounts to € 3.3bn. The percentage of electrified lines in Greece is only 30% compared to the European average of 58%