Exarchou: AKTOR Delivers Europe’s Most Modern Metro – A New Chapter for the Group

The Kalamaria extension is more than a major infrastructure handover for AKTOR: it is a proof of execution, technical strength and the new momentum of a group that has raised €950 million and plans around €3 billion in investments through 2031.

The delivery of the Thessaloniki Metro extension to Kalamaria marks more than the completion of a major transport project for AKTOR.

For Chairman and CEO Alexandros Exarchou, it is also proof that the transformed group can execute and deliver highly complex infrastructure projects at scale.

Speaking at the inauguration ceremony, Exarchou placed particular emphasis on safety, technical quality and the ability of the company’s teams to complete a project that had been associated for years with delays and complexity.

“We are extremely proud. We can finally say, with great satisfaction, that we completed it,” he said.

He summarized the achievement in one clear phrase:

“We proved that we can deliver the Metro safely.”

The Kalamaria extension brings five new stations into operation — Nomarchia, Kalamaria, Aretsou, Nea Krini and Mikra — extending the network by around 4.5 kilometers.

“The Most Modern Metro in Europe”

Exarchou described the Thessaloniki Metro as “the most modern Metro in Europe”, stressing the importance of delivering a technically demanding project that had become symbolic of the difficulties surrounding major public infrastructure in Greece.

For AKTOR, that is the crucial point.

This is not simply the completion of a construction contract.

It is evidence that the group now has the technical expertise, organizational structure and execution capacity required to complete projects of high complexity.

That matters at a time when AKTOR is repositioning itself as one of the strongest infrastructure and energy groups in Greece and the wider region.

“AKTOR’s People Gave Their Soul”

Exarchou dedicated a significant part of his remarks to the employees and engineers who worked on the project.

“AKTOR’s people gave their soul to finish this project,” he said.

He made special reference to Spiros Kalaitzis, using his name to recognize the broader teams that worked intensively to bring the project to completion.

The message also carries internal corporate significance.

AKTOR’s current management is trying to connect the group’s turnaround not only with fresh capital and acquisitions, but with a culture focused on execution and delivery.

For Exarchou, the credibility of an infrastructure company is ultimately proven on the construction site and at the moment of delivery.

The Hitachi Partnership

Exarchou also highlighted the role of Hitachi, describing the company as a “truly valuable partner.”

“They did not only what the contract required them to do, but much more,” he said.

Large infrastructure projects of this scale depend on close coordination between contractors, systems providers and public authorities.

The Thessaloniki Metro extension is a clear example of a project in which technical cooperation and coordinated project management were essential to reaching completion.

“The Prime Minister’s Drive Brought Us Here”

The AKTOR chief also credited the government and Prime Minister Kyriakos Mitsotakis with closely monitoring the project and pushing it toward completion.

“It is the Prime Minister’s drive that has brought us here today,” Exarchou said.

According to him, Mitsotakis had detailed knowledge of the project’s progress and even of specific technical issues.

Exarchou also referred to the contribution of former Infrastructure Minister Christos Staikouras, current minister Christos Dimas and Deputy Minister Nikos Tachiaos.

His remarks underline one of the central realities of large infrastructure development:

technical competence is essential, but continuous administrative coordination and political pressure to meet deadlines are equally critical.

The Metro and AKTOR’s “Rebirth”

Exarchou directly linked the completion of the Thessaloniki Metro with the broader transformation of AKTOR itself.

The group has gone through a major restructuring process and now operates with a far stronger capital base and a much more ambitious investment strategy.

In July, AKTOR completed a €650 million share capital increase and a €300 million international bond issue.

Altogether, the group has secured around €950 million in new capital to support its growth strategy.

The next step is even larger.

AKTOR plans approximately €3 billion of investments between 2026 and 2031, expanding across infrastructure, energy, concessions and activities designed to generate recurring cash flows.

The €950 Million International Vote of Confidence

The group’s recent access to capital markets is particularly important for Exarchou.

AKTOR’s €300 million international bond issue attracted demand significantly above the amount sought.

For a Greek construction and infrastructure group, that level of investor interest is a strong signal that international markets are reassessing AKTOR’s credit profile and growth prospects.

Investor confidence, however, depends on more than financial projections.

It also depends on management’s ability to execute.

And that is where the Thessaloniki Metro becomes strategically valuable.

From Balance Sheet to Construction Site

The new AKTOR has capital.

It has an investment plan.

It has a diversification strategy.

The key issue now is execution.

The delivery of the Kalamaria extension acts as a real-world proof point.

It shows that the group can translate financial restructuring and strategic planning into completed infrastructure.

That is ultimately what investors, banks and international partners will use to judge AKTOR’s new business model.

“We Can Deliver Many More Projects Like This”

Exarchou ended his remarks by looking beyond Thessaloniki.

“We will be able to deliver many more projects like this in the future,” he said.

The statement is not just about another construction contract.

It reflects AKTOR’s ambition to play a leading role in the next investment cycle across infrastructure, energy and concessions.

As Greece enters a period of major spending on transport, energy networks and urban infrastructure, companies with both a strong balance sheet and a proven ability to deliver gain a clear strategic advantage.

 Kalamaria Becomes AKTOR’s Own “Passport of Credibility”

For the government, the Thessaloniki Metro is being presented as a political “passport of credibility.”

For AKTOR, it is a corporate one.

Delivering a project of this complexity gives the group something that cannot be easily bought in capital markets:

a track record.

The €950 million capital strengthening shows that AKTOR now has financial firepower.

The €3 billion investment plan shows ambition.

The Metro delivery shows execution.

And it is the combination of those three elements that can truly redefine AKTOR’s market position.

Exarchou’s goal is clear.

He does not want AKTOR to be seen merely as a large Greek contractor.

He wants it to evolve into a diversified infrastructure and energy group with regional reach and access to international capital.

In that sense, the Kalamaria delivery does not simply close a difficult construction cycle.

It opens the next one.

Source: pagenews.gr