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Crete Airport: awarded for a Greek-Indian jv

Construction work may begin next year

By the end of the year the Greek parliament should vote for the green light to work on the construction of the new Kasteli airport on the island of Crete, which will replace the old Heraklion airport currently the second largest passenger number in Greece. The construction site, if all goes well, will open next year, and will be managed by the joint venture between the Gmr Indian consortium and the Greek company Gek Terna awarded the contract thanks to the 850 million euros offer. It could be the last step towards the construction of the new infrastructure, for which the government of Athens has been looking for investors since 2010, and the funds needed to better manage the almost 7 million passengers a year that land in the city of Greece's main island .

Furthermore, this could be an important economic and employment vehicle for Greece, which has just come out of an imposing financial rescue plan and is now looking for private investments to improve its infrastructures, which in the past year have passed partly in the hands of a German-Greek company led by Fraport, which, after paying 1 billion euros, has started to manage 14 regional airports mostly located on the Aegean and Ionian islands. In addition to this investment, construction of the new Kasteli airport could begin soon, which will take about 5 years and will cost about 500 million euros, of which "only" 180 allocated by the State. An important saving that could mark the way for a Greek infrastructure recovery.

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