GEK Terna frontrunner for new metro line prep

Greek conglomerate GEK Terna is seen as the frontrunner for winning a tender to carry out preparatory works prior to construction for a new metro line in the Greek capital, according to sources.

The project concerns work on the first section of Line 4, which will connect downtown Athens from Alsos Veikou to Goudi.

The listed company reportedly offered the biggest discount, with 20.38 percent, marginally better than the next lowest bidder, ERETBO, which trimmed 20.63 percent, the sources said.

It is expected, therefore, that Attiko Metro’s board will announce GEK Terna as the preferred bidder at its next meeting in the days ahead.

The project, initially budgeted at 48.36 million euros, will include moving part of public utility networks, diverting traffic and conducting archaeological research, and is expected to last two-and-a-half years.

Eight bidders showed interest in the project: Aktor, J&P Avax, P&C Development, Themeli, Mytilineos and Intrakat.