Manos Moustakas, General Director of Business Development and Executive Board Member of GEK TERNA Group, spoke at the “ET Forum: CRETE 2030: ” about the Group’s investments in critical infrastructure in Crete, implemented through significant projects in road and air transport, as well as in water resource management.

As he explained, GEK TERNA, which has been active on the island for several decades, operates simultaneously as an investor and concessionaire, meaning that it does not follow the model of a typical construction company. This implies a “full alignment with users, the project owner (the State), and all other stakeholders on the island.”

Specifically, Mr. Moustakas noted that:

• Regarding the Northern Road Axis of Crete (VOAK), the number of construction sites is expected to increase significantly by the end of the year. The objective is for the Heraklion–Chania section to be completed and delivered for use by 2030, with GEK TERNA Group maintaining a 40% participation in the consortium.
• At Kastelli Airport, construction progress has reached 70%. The terminal building is nearing completion, while the 44-meter air traffic control tower is scheduled to be delivered in 2026 to the Hellenic Civil Aviation Authority for the integration and certification of systems. At the same time, the installation of the required aeronautical equipment is being advanced, with the relevant international tender already underway. Commercial operation of the new international airport—expected to serve as a major driver of economic growth and accommodate up to 15 million passengers—is scheduled for 2028.
• In water resource management, the Group is already implementing a major PPP project, including two reservoirs in Chochlakia and Agios Ioannis in Eastern Crete, with a total budget of €210 million. In parallel, the Group aims to develop an energy storage project in Amari and has also prepared a technical solution to address water scarcity challenges on the island.