Construction companies undertake road works
3/2/2010 7:57
The largest part of the road works in 2009 has been shared out to three big construction companies, while seventeen more share the remaining €134 million. According to figures presented by StockWatch today, the road works have been shared out to a small number of construction companies that won the battle of tenders in 2009.
Medcon Constructions ranks first, undertaking four projects and another one in cooperation with Nemesis.
The total sum of its projects stands at €35.9 million, which is 27% of the total sum of the projects in 2009.
The biggest construction work of Medicon is the first phase of the vertical road from the new port to the new Limassol hospital, the cost of which will reach €23.9 million. The contracts were signed on December 3 and the works will take 30 months.
A significant market share in the road works has been undertaken by Miltiades Neophytou, which secured a contract of €21.5 million for the road network off new GSP.
The contract was signed on October 13, 2009 and works are expected to last 120 weeks.
It is worth noting that the company, which belongs to Chairman of Omonoia FC, was criticized strongly by the opposition for undertaking the building of the Cyprus Theatrical Organization (€20m), the new Urban Planning Department building (€26m) and the refurbishment of the Conference Center (€20m).
Iacovou Bros have won four projects and two more with Zemco and Cybarco.
Specifically, Iacovou Bros will improve the northern by-pass of Paphos, second phase, of €5.5 million. The contracts were signed on April 15 and works will take 60 weeks.
The company also undertook the construction of the road from Idalion Industrial Area to Vathia Gonia, the cost of which is expected to reach €2.7m, the periodical maintenance of parts of the A3 highway (€2.8m) and the asphalting of part of the same highway (€0.7m).
The cost of the project undertaken by Zemco stands at €6.1 million concerns the construction of Kellaki – Eptagonia by-pass. The contracts were signed on December 21 and works will take 18 months.
Nemesis secured contracts of €10.3 million, undertaking 4 projects for improvement and maintenance of existing roads.
Cybarco secured the maintenance of A1&A6 highway (€2.6m) and the periodical maintenance of a road in Limassol municipality (€2.9m) together with Iacovou Bros.
Road works of €5.3 million and €4.6 million have been undertaken by Panayides and Iordanou respectively.
Road works of lower value have been undertaken by Kounnas Bros, S. Hadjichristofi Constructions, C. Kassinos, Pampoukkas, Ch.P.Th Alexandrou and D&G ICOS SICAPI.
Three more companies participate in the improvement of Paralimni – Deryneia road (€11.3m) and are J/V Lois Builders Ltd, Phoenix Constructions and Ergodynamiki Patron.
Medcon Constructions ranks first, undertaking four projects and another one in cooperation with Nemesis.
The total sum of its projects stands at €35.9 million, which is 27% of the total sum of the projects in 2009. The biggest construction work of Medicon is the first phase of the vertical road from the new port to the new Limassol hospital, the cost of which will reach €23.9 million. The contracts were signed on December 3 and the works will take 30 months.
A significant market share in the road works has been undertaken by Miltiades Neophytou, which secured a contract of €21.5 million for the road network off new GSP.
The contract was signed on October 13, 2009 and works are expected to last 120 weeks.
It is worth noting that the company, which belongs to Chairman of Omonoia FC, was criticized strongly by the opposition for undertaking the building of the Cyprus Theatrical Organization (€20m), the new Urban Planning Department building (€26m) and the refurbishment of the Conference Center (€20m).
Iacovou Bros have won four projects and two more with Zemco and Cybarco.
Specifically, Iacovou Bros will improve the northern by-pass of Paphos, second phase, of €5.5 million. The contracts were signed on April 15 and works will take 60 weeks.
The company also undertook the construction of the road from Idalion Industrial Area to Vathia Gonia, the cost of which is expected to reach €2.7m, the periodical maintenance of parts of the A3 highway (€2.8m) and the asphalting of part of the same highway (€0.7m).
The cost of the project undertaken by Zemco stands at €6.1 million concerns the construction of Kellaki – Eptagonia by-pass. The contracts were signed on December 21 and works will take 18 months.
Nemesis secured contracts of €10.3 million, undertaking 4 projects for improvement and maintenance of existing roads.
Cybarco secured the maintenance of A1&A6 highway (€2.6m) and the periodical maintenance of a road in Limassol municipality (€2.9m) together with Iacovou Bros.
Road works of €5.3 million and €4.6 million have been undertaken by Panayides and Iordanou respectively.
Road works of lower value have been undertaken by Kounnas Bros, S. Hadjichristofi Constructions, C. Kassinos, Pampoukkas, Ch.P.Th Alexandrou and D&G ICOS SICAPI.
Three more companies participate in the improvement of Paralimni – Deryneia road (€11.3m) and are J/V Lois Builders Ltd, Phoenix Constructions and Ergodynamiki Patron.
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