On Tuesday, June 28, 2022 at 12:00 p.m. The Ordinary General Assembly of GEK TERNA will be held with the BoD. of the company to propose a return of capital of 0.12 euros per share.
In particular, as informed by the listed company, among others, the Board of Directors proposes to the Annual Ordinary General Meeting the increase of the share capital of the Company by the amount of € 12,410,794.00 with capitalization of part of the special reserve from the issuance of equity shares with an increase of the nominal value of the share from 0.57 € to 0.69 € and at the same time a reduction of the share capital by the amount of € 12,410,794.00 with a corresponding reduction of nominal value of each share from € 0.69 to € 0.57 and the refund of the amount of the reduction € 0.12 per share to the Shareholders.
GEK TERNA Group points out that it is among the largest and most extroverted Greek business groups, with 3,500 employees and a significant presence abroad. Consistently supporting the national economy, the GEK TERNA Group is promoting new investments of 6.5 billion euros, which will create more than 20,000 new and well-paid jobs, within the next five years, in the fields of production and storage of clean energy. circular economy, infrastructure and concessions.
The Group’s portfolio of key infrastructure that is in progress includes, among others, landmark projects, such as the southern and northern part of the E-65 highway, the design, construction and management of the new Heraklion International Airport in Kastelli, Crete and the Complete Casino Complex (IRC) in Elliniko. In 2022, great weight is expected to be given to the extensive and demanding construction object of Egnatia Odos, with the completion of the concession process of the highway in the form GEK TERNA – Egis, as 100% of the construction works will be implemented by TERNA.
The undertaking of the concession of Egnatia Odos is a development of key importance for the GEK TERNA Group, especially in the field of concessions. Specifically, with the addition of this concession, the total portfolio of highways of the GEK TERNA Group will now exceed 1,500 km, as the Group also owns 100% of Nea Odos, 100% of Main Road and 17% of Olympia Odos. . It is the largest portfolio of highways in the country and one of the largest in Europe. In total, in the field of concessions, GEK TERNA has developed an investment plan of 4 billion euros, having secured the required capital and having completed or brought to a final stage the negotiations for the relevant financing lines.
In the construction sector, the signed construction backlog of the Group on 31.12.2021 amounted to approximately 2.5 billion euros. With the addition of the new contracts to be signed, the backlog will reach 4.9 billion euros in the next period. Of this, about 400 million euros come from abroad and the remaining 4.5 billion euros relate to activities in Greece. Of the € 4.5 billion domestic backlog (signed and to be signed), about € 1.7 billion corresponds to public works, while the remaining € 2.8 billion corresponds to private projects or a construction object included in the Group through Concessions / PPP projects in which the Group already has or is going to invest (eg new International Airport of Heraklion, Crete, Integrated Tourist Complex with Casino in Elliniko, Egnatia Odos etc.).
At the same time, it further strengthens its position in the Greek and international construction market, performing important construction projects, such as the reconstruction of the Piraeus Tower and the new five-storey office building complex, with ground floor shops and underground parking spaces of Prodea Investments, while starring in of tourism development, implementing in Cyprus the Ayia Napa Marina, with port projects, two towers, a complex of luxury residences and a commercial zone and, in consortium, the City of Dreams Mediterranean project in Limassol, the largest multi-themed casino-resort in the region and Of Europe.
Focused on the green transition for decades, the GEK TERNA Group through its subsidiary TERNA ENERGIAKI, promotes an investment plan that, despite the pandemic, is evolving smoothly, aiming at a total installed 6.4 GW by 2029. In this context, the plan is 2029. development of new wind and photovoltaic parks with a total capacity of about 4 GW (the Group has been placed in time in the market of marine wind farms, where in a joint venture with OCEAN WINDS plans to develop parks in the Greek seas). At the same time, hydroelectric parks and pumping storage projects with a total capacity of 1.25 GW are developed and designed, while storage projects of other technologies (biogas, biomass, etc.) are also promoted. with a total power of approximately 0.25 GW.
In the field of thermal energy, the GEK TERNA Group in 2021 made a strategic move to acquire full control of the shares of the HERON Group against its previous shareholding in them.
In addition, together with the MOTOR OIL Group, they are developing a unit of electricity from natural gas with a capacity of 877 MW in Komotini, an investment of 375 million euros.
Source: Capital
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