ECONOMY: Greek firm assigned EUR 100 mln projects in Cyprus and Middle East

Greek construction firm TERNA, a 100% subsidiary of GEK TERNA Group, was assigned four new projects in Cyprus, Abu Dhabi and Bahrain, with a total budget exceeding EUR 100 mln.

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Terna is already active in Cyprus being the preferred bidder to build the City of Dreams Mediterranean casino complex in Limassol and the second phase of construction at Ayia Napa marina.

In Cyprus, TERNA has been awarded the supply and installation of the flue gas desulphurization plants on lines 1 and 2 by the Electricity Authority. The project concerns the study, supply and installation of units 1 and 2 at Vassiliko, as well as all necessary civil engineering works. The project will be completed in July 2020 and the budget accounts for EUR 30 mln.

Also, in Cyprus, TERNA undertook the Hellenic Petroleum EPC project for new fuels installations at Vassiliko. Construction period is one year and the budget amounts to EUR 23.5 mln.

In this development phase, the new installation, with a total storage capacity of 69,000 m3, will consist of 11 fuel storage tanks and one tank fire. The installation will also have a fully autonomous firefighting network consisting of a 4,000 m3 firefighting tank.

In addition, TERNA was assigned one project in Abu Dhabi with a total budget of EUR 8.5 mln, for the Diyafah International School L.L.C. The project concerns the construction works in a total built up area of approximately 93,186 sqm. 

In Bahrain, TERNA in a joint venture with CGCE (TERNA 50% – CGCE 50%) undertook the construction works of Bridges to Al Madina Al Shamaliya connecting islands 9 & 10 and 11 & 12. The project has a budget of EUR 38 mln and was assigned to the joint venture by the Bahrain Ministry of Housing.