The Administration of GEK Group presented to the Association of Greek Institutional Investors the strategy and the perspectives of the Group in Greece and international area.
In particular, detailed reference was made to the main fields of activities of the Group, which are Constructions, Energy Projects, Real Estate and Concessions. More specifically, in the field of Constructions, due to TERNA S.A., the group has gathered an important portfolio of projects under construction which amounted at the end of the year the amount of one billion euros (euro 1.000.000.000), whereas within the next few months the value of this portfolio is expected to increase to the amount of one billion seven hundred million euros (euro 1.700.000.000), including the contracts to be signed. It is reminded that the Group has already signed the Concession Agreement for the Construction and Exploitation of Ionia Odos, while within the next months the signing of the Concession Agreement concerning the project "Central Greece Motorway" is expected to take place. At the same time, the Group''s activity in the construction market abroad is very successful, taking into account the fact that TERNA has already been appointed with seven (7) very important projects in the Balkans and the Middle East of a total budget of five hundred fifty million euros (euro 550.000.000).
The energy sector is one of the most important levers of development: the Group has been active for more than ten (10) years in the sector of renewable energy sources. In addition, the Group is and remains the first and only private entity to generate power from thermal sources. The Group''s aim is to have established by 2012 a power of1600 MW from renewable energy sources in Greece and abroad and a 1200-1500 MW power from thermal energy sources.
In the real estate sector, GEK Group has placed equity amounting to one hundred thirty thousand euros (euro 130.000.000) (according to evaluations of 2004) for the development of real estate projects in Greece and in other areas of the Balkans. The dynamic development of the real estate portfolio ensures very satisfactory returns for the shareholders.
In the Concessions sector, apart from the construction of garages, the Group has already started to construct and exploit motorways. The construction of Ionia Odos, the first Concession Project, will begin within the year.
The Group''s investment program is supported by its substantial available funds and the capability to succeed remarkable cash flows in every activity as well as by the notable creditworthiness of each company of the Group.
This presentation can be found on the Web Page of the Group www.gek.gr