Greece - Country Commercial Guide

This is a best prospect industry sector for this country. Includes a market overview and trade data.

Last published date: 2022-07-27


Greece’s infrastructure sector was negatively impacted by the financial crisis during the period 2008-2014. Most construction projects were postponed, firms downsized or went out of business, and professionals sought opportunities abroad. In 2015-2018, the infrastructure industry began to experience slow growth as the country headed towards economic revival and the government committed to project continuity and stability. Since 2019, the government has amended regulations to allow privatization of state-owned assets, and an increasing number of investment projects co-funded with EU have gone public. As such, industry value growth is estimated at 4.9% in 2022 and 4.3% in 2023. Nonetheless it will remain below pre-crisis levels. The Ministry of Infrastructure and Transport and the Hellenic Republic Asset Development Fund are the main stakeholders of public tenders including public-private partnerships (PPP) which are preferred and supported by the current government. Although there are many small-medium firms, the key players in the market include Aktor, Avax, GEK Terna Group, Metka and Intrakat, with the first three winning 84% of the contracts in country, especially PPPs. As the market grows, investments are politically facilitated, and the need for global standards of project management and engineering services is becoming more than evident.

Leading Sub-Sectors

Transport (Ports, Shipyards, Rail, Road)

Infrastructure in Transport is expected to increase in value by 3.2% in 2022. The current government has embarked on an effort to upgrade and reconstruct points of entry in order to increase interconnection and make Greece an intercontinental hub and energy exporter. Greece is in the process of privatizing the ports of Alexandroupoli, Igoumenitsa, Volos, Kavala and Heraklion. Other assets being privatized include the Scaramanga and Elefsina Shipyards, both with significant debt. Several U.S. firms are positioning themselves to compete for these assets as project manager and executor. Any winner of such critical assets is expected to invest in modernization of assets which will likely create opportunities for U.S. products and services. There also could be a need for project managers as the project developers seek expertise and as the Government monitors the privatization process. U.S. firms in this space are encouraged by the success of Neorion Shipyard in Syros which was privatized by U.S. firm Onex in 2019. 

Greece’s railway network is another priority for the Government.  Six new tenders, at a total budget of $4.20 billion, have been introduced. To further complement and support the interconnectivity goal, the government has also introduced new road tenders that aim to connect entry points (ports, rail stations, airports) to main cities and logistical centers as well as the neighboring countries. 


Infrastructure in Energy is expected to decrease in value during the 2022-2031 period, but the EU has granted Greece $32.24 billion for supporting energy related projects. Metavasi SA was recently founded to assist with the transition from lignite to cleaner sources of energy and initially provided with $1.8 billion in grants to execute its mission. Greece has ambitious renewable energy targets, modernization plans through its grid operators and natural gas distributor (whom have been boosted by foreign capital), and LNG projects and electricity interconnectors that are being developed.

The needs in this space are broad, ranging from equipment for grid modernization, project managers for design and execution, and cybersecurity solutions for critical assets. For information on specific opportunities in the ICT or Energy Sectors, please refer to the “best prospect” sector information in the respective sectors.


The Ministry of Infrastructure and Transport has announced fifteen new projects amounting to $13 billion. Opportunities for U.S. firms lay on the project management side, and the most advantageous way for partnerships tends to include roles such as construction management, project management, or a technical advisor role. According to government officials and key players in the market, the influx of priority projects has increased the need to manage quality and deliver on time. The Greek side is slowly recognizing the importance of project management for both public and private tenders. View information on tender opportunities.

On the private side, there are many projects under development but the one worth noting is the Hellinikon Project valued at 8 billion euros which is about 3% of the nation’s GDP. Two U.S. firms have already won major roles in this development, which includes yet another U.S. firm through the development of an integrated resort. 

To compete in public tenders, firms will need a local partner for bureaucratic purposes and to likely handle the on the ground coordination. This is not required to the same extent for private sector opportunities, but firms would still be required to commit to an on the ground presence, and dedicated team for project execution. For firms wishing to provide solutions to the project executors, they would need to identify projects of interest, and then approach the project executors regarding vendor selection opportunities.


Annual Infrastructure and Transport Conference | May-June 2023 |

To learn more, please reach out to Infrastructure Industry Specialists Athina Kladis ( and Irini Karajani ( to arrange a conference call.