GEK Terna has evolved into a leading infrastructure group, with a portfolio of concessions lasting at least 25 years, capable of generating total cash flows of 11 billion euros.
Starting with construction and energy, GEK Terna, with chairman, CEO and main shareholder George Peristeris, is completing a multi-year cycle of significant investments while large concessions that now constitute its core are about to mature.
Existing concessions include the largest motorway network in the country, with a total length of over 2,000 kilometres.
At the same time, the Group is developing Greece’s second largest airport in Kastelli, Heraklion, Crete, and the only branded Integrated Resort Complex (IRC) in mainland Europe, in Ellinikon, in a joint venture with Hard Rock, an investment totalling 1.5 billion euros.
In addition, GEK Terna owns 40% of the Northern Road Axis of Crete (VOAK), which is the largest motorway under development in Europe, with a total construction project of 1.75 billion and retains an option to acquire a 50% stake in the 700 MW Amfilochia pumped storage project, which is the newest large unit of this activity in Europe.
The Group’s subsidiary, Terna, remains the largest construction company in Greece, with an unexecuted project backlog of 9 billion, compared to 3 billion euros in 2020, which ensures the Group’s income for a period of more than six years, based on the current rate of project execution.
At the same time, it has a strategic presence in the conventional electricity market through the Heron Group, which, after the pending merger with Motor Oil (50% – 50% joint venture), will become the second largest electricity producer in the country.
At the core of GEK Terna’s transformation, which has accelerated over the last five years, lies its new role. From a manufacturer and a major player in the energy sector, it has evolved into a manager of critical infrastructure, controlling, among other things, the largest and most important road arteries in the country.
In other words, it has become more important for the smooth functioning of both the economy and society, while, in today’s circumstances, this role also acquires a broader geopolitical dimension.
With 9,000 employees and a contribution of 5.9 billion to GDP, GEK Terna has entered a new phase in terms of its financial figures.
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