Greece Infrastructure Report Q1 2012

Includes 3 FREE quarterly updates

Greece’s ongoing economic crisis has continued to have a considerably negative effect on the country’s construction sector and infrastructure developments. As the crisis has intensified, a number of infrastructure projects have been scrapped or delayed, as public and private funding has been harder to come by. BMI expects Greece’s construction industry to decline by 18.5% in 2011, and 1.1% in 2012, with growth unlikely to return until 2016.

The past quarter has seen some development in infrastructure projects and government strategy:

• By 2016, Greece plans to privatise EUR50bn in state assets, as part of an EU-backed bailout. In particular, this privatisation is expected to affect the infrastructure sector. In September 2011, the government began the process of selling shares in Greece’s toll roads; eight roads will be privatised as part of the privatisation programme.
• In June 2011, the deadline for awarding the contract for the development of Kastelli Airport was pushed back for a fifth time. While some have suggested that the delay has been caused by lack of public funding, Greece’s deputy infrastructure minister has insisted that the postponement will allow parties to assess the feasibility of the development. Additionally, despite funding problems, the Greek government has also expressed an interest in developing the country’s road network.
• There has been some development in the renewable energy sector in recent months. Most notably, the announcement of Project Helios, which will see Germany develop a 10GW photovoltaic region in Crete. The site will generate energy for export to Northern Europe, creating 60,000 jobs in Greece. Early reports indicate that 10GW will be installed by 2020.

On a positive note, recent months have seen Germany and China confirm their interest in investing in Greek infrastructure. BMI has highlighted the potential for investment in the country’s energy sector, particularly with regard to renewable energy. However, our forecasts indicate that the segment will continue to account for around 30% of Greece’s infrastructure industry. While foreign investment in Greece’s infrastructure and construction industry will not provide an immediate fix to the country’s deeprooted economic problems, such development would provide stability in the long-term.

Contents

Executive Summary
SWOT Analysis
Market Overview
Greece
Building Materials
Industry Trend Analysis - Building Materials: Asia And Latin America Demand Drive EM/Developed Market Divergence
Europe Overview
Eastern Promise Drives 2011 Recovery
Industry Forecast Scenario
Table: Greece Construction And Infrastructure Industry Data
Table: Greece Construction And Infrastructure Industry Data
Construction and Infrastructure Forecast Scenario
Transport Infrastructure
Table: Greece Transport Infrastructure Industry Data
Table: Greece Transport Infrastructure Industry Data
Transport Infrastructure Forecast Scenario
Transport Infrastructure Overview
Table: Major Projects-Transports
Energy and Utilities Infrastructure
Table: Greece Energy and Utilities Infrastructure Industry Data
Table: Greece Energy and Utilities Infrastructure Industry Data
Energy and Utilities Infrastructure Forecast Scenario
Energy and Utilities Infrastructure Overview
Table: Major Infrastructure Projects - Energy & Utilities
Table: Greece Residential and Non-residential Building Industry Data
Table: Greece Residential and Non-residential Building Industry Data
Residential/Non-Residential Construction and Social Infrastructure Overview
Business Environment
Greece Business Environment
Rewards
Risks
Regional Overview
Developed States Infrastructure Risks/Reward Ratings
Developed States: Infrastructure Risk/Reward Ratings
Company Monitor
GEK Terna SA
Aktor
J&P-AVAX Group
Global Overview
Infrastructure Finance In 2012: Déjà Vu?
BMI Methodology
Industry Forecasts
Construction Industry
Data Methodology
New Infrastructure Data Sub-sectors
Construction
Capital Investment
Construction Sector Employment
Infrastructure Business Environment Rating
Table: Infrastructure Business Environment Indicators
Project Finance Ratings
Table: Design And Construction Phase
Table: Commissioning And Operating Phase – Commercial Construction
Table: Commissioning And Operating Phase – Energy And Utilities
Table: Commissioning And Operating Phase – Transport
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