The outstanding balance of the construction arm of the Mytilinaios group, close to 2 billion euros, from 1.2 billion euros at the end of the first half of this year, is expected to “rise” in the coming months as a number of new contracts are signed. The largest of these concerns the PPP project for the construction of a new ring road (Flyover) in Thessaloniki through a joint venture with Avax. The project budget is 462.5 million euros, and according to a recent statement by the Deputy Minister of Infrastructure G. Karagiannis, the contract is being reviewed by the Court of Accounts to complete it within a month and before the end of 2022 in order to start the relevant work.

Among the important new projects expected to be built by the sustainable projects sector of the Mytileneos group is Thriasio I, a €150 million investment that will create a state-of-the-art cargo center in the wider area of ​​West Attica. The accompanying infrastructure was created by the Mytileneos group on behalf of the ETVA VIPE-Goldair joint venture property manager.

The group has signed contracts for projects with a total value of 500 million euros in the UK and Poland.

Another important project of the Mytileneos group concerns the construction of the largest data center currently being implemented in the country. Reason for Athens 3 by Lamda Helix, a Digital Realty group. These are objects with a total area of ​​8,600 sq.m. which will be created in the Koropi region. It is expected that the first stage of work will be completed in December next year.

According to the group’s management, “construction activity is expected to accelerate in the coming quarters with the start of projects that were contracted in the previous period, as well as a further increase in the backlog, which will strengthen the sector. profitability”. New projects signed this year by the group in the UK and Poland, worth a total of €500 million, will play an important role in this recovery. In particular, agreements were signed on the construction of three open cycle plants and one combined cycle plant in the countries under consideration. In fact, especially in the UK, the Mytileneos Group is discussing the implementation of other projects, especially in the field of energy use of waste.

However, 41% of the outstanding balance comes from projects in Greece, where growth is expected to pick up significantly in both the construction and concessions sectors, given that the group is bidding for a number of new PPP contracts. In the first half of this year, Mytileneos’ sustainable projects sector registered a turnover of 173 million euros, slightly lower than the 185 million euros for the corresponding period last year. Accordingly, operating EBITDA was €173 million, compared to €25 million.