BMI's Executive Summary

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The Hellenic Republic of Greece has witnessed tremendous development in its existing infrastructure since preparations began for the 2004 Athens Olympic Games. BMI's newly released Greece Infrastructure Report Q407 forecasts an average construction growth rate of 5.8% over the 2008-2012 period. The construction industry contributed about 6.85% to the Greek gross domestic product (GDP) in 2006.

The European Union (EU) has substantially funded and aided the development of Greek infrastructure. Major projects currently under way in the country span roadways, railways, airports and hotels, as well as telecommunications and energy segments. The nation's endeavour to create diversified sources of energy has paid dividends, as agreements have been signed with Russia, Turkey, Italy and other nations for the construction of oil and gas pipelines. Major players in the Greek infrastructure industry include locals Elliniki Technodomiki-Aktor-TEB Group, J&P-AVAX, Terna, Mytilineos, Aegek and Athena.

However, growth in the Greek construction industry has been sluggish. It also suffers from certain drawbacks that can have an adverse effect on its long-term growth potential. Since the majority of the Greek projects are financed by the EU, any reduction in fund allocation can have a significant impact on the industry. Earlier, Greece had to contend with only a few countries for EU funds. However, the entry of eastern European countries into the EU now means Greece is one of several 'poor' countries seeking EU funds. Moreover, the nation is plagued by widespread delays in project completion and inadequate private investment. Further, bureaucracy hinders the pace of developmental work.

That notwithstanding, BMI forecasts that Greece's plans to promote itself as a gateway for Chinese and Russian goods and energy to the Balkan Peninsula and the Black Sea region, among other proposed infrastructural developments, will lead its construction industry to reach a value of US$39.96bn in 2012.

Contents

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Chapter 1 – Industry Trends And Developments

Market Overview

Greece's Economy In 2006

Greece's Construction Industry In 2006

Table: Greek Construction Activity

Major Companies

Some Recent Investment Initiatives

Chapter 2 – Key Projects

Transport

Utilities

Tourism

Residential And Commercial Construction

Sports

Table: Greece — Major Infrastructure Projects

Chapter 3 – Business Environment

Introduction

Business Attractiveness Rankings — Methodology

Breakdown Of Ratings

Breakdown Of Components

Regional Overview

Greece: Business Environment Ranking

Politics — Long–Term Risk

Economics — Long–Term Risk

Competitive Environment

Anticipated Sector Growth

Chapter 4 – SWOT Analysis

Greece Infrastructure Industry SWOT

Greece Political SWOT

Greece Economic SWOT

Greece Business Environment SWOT

Chapter 5 – Industry Forecast Scenario

Table: Greece — Infrastructure Industry Forecast

Risks

Chapter 6 – Macroeconomic Outlook

Table: Economic Growth

Chapter 7 – Competitive Landscape

Table: Key Players

Chapter 8 – Company Monitor

Aktor

Terna

J&P–Avax

Alte

Aegek

Chapter 9 – BMI Forecast Modelling

How We Generate Our Industry Forecasts

Construction Industry

Sources

Competitive Landscape for Europe Infrastructure Reports: Sample of Companies Ranked

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Comparative company analyses and rankings by sales, % market share, employees, registration date and ownership structure. Company profiles include fully researched senior executives and contact details, business activity and leading products and services. SWOT (strengths, weaknesses, opportunities, threats) of the state’s business environment, infrastructure sector, politics and economics, which carefully evaluates the short- and medium-term issues facing the industry.

Network of European Infrastructure Sources

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BMI's European Infrastructure Reports are based on an extensive network of multilateral organisations, government departments, infrastructure industry associations, chambers of commerce and company reports. Information sources include: