Intrakat

The ongoing legal battle between the Republic of Cyprus and Greek contractor Intrakat over the Paphos-Polis highway project is continuing to evolve into a complicated mess with multiple court cases in play.

Construction company Intrakat, which was contracted to build part of the Paphos-Polis Motorway in Cyprus, is facing significant financial troubles, leaving behind nearly 1 million euros in debts to seven local subcontractors and suppliers.

Thrivest, the holdings company owned by Dimitris Bakos, Giannis Kaimenakis and Alexandros Exarchou, for Intrakat, now renamed Aktor, is planning acquisitions and investment of 2 billion euros, and development in fields such as RES, real estate and PPP, the group's managing director, Alexandros Exarchou, tells Kathimerini.

Three investment schemes expressed strong interest in the tender for the development of the Andreas Lentakis Governmental Park, worth 421 million euros (plus VAT) and which will include government services and a public park, the Hellenic Republic Asset Development Fund (TAIPED) announced on Friday.

The major project of the main line of Thessaloniki Metro is now in the final stages of being delivered to the Greek State, as the management of AKTOR, a subsidiary of Intrakat Group, noted today in the presence of the political leadership of the Ministry of Infrastructure and Transport and the management of Hellenic Metro.

A bridge on the Athens-Corinth National Road is being demolished after a fire caused by an overturned truck severely damaged the structure on Friday night.

The incident occurred near the Isthmus of Corinth. The truck driver was hospitalized before facing a prosecutor. He has since been released.

The inflow of real estate investment companies (REIC) into the stock market will continue in 2024.

After the stock listing first of Trade Estates REIC, of the Fourlis group, and recently of Orilina Properties REIC, three more companies are in line. They are Noval Property REIC, of the Viohalco group, Intracom Properties and Lamda Malls, of the Lamda Development group.

PPC announced the signing of a binding agreement on Wednesday between its subsidiary PPC Renewables and Intrakat Group for the joint development of a renewable energy sources (RES) portfolio with a total capacity of up to 2.7 gigawatts.

Greece's Minister of Social Cohesion and Family Sofia Zacharaki and the governor of the Central Bank of Cyprus, Constantinos Herodotou, will address the 29th Annual Christmas Gala 2023 in London on Saturday, organized by the Hellenic Bankers Association UK.

Intrakat announced on Wednesday that the acquisition of all the shares of Aktor has been approved by the Competition Commission, thus putting the Intrakat Group's vision of creating a strong pillar in construction in Southeast Europe on track for immediate completion, which will generate value for the economy and the country.