Fraport Greece spends 357 mln euros to upgrade airports

Fraport Greece has signed agreements worth 357 million euros with Greek construction company Intrakat for the upgrading of 14 regional airports the Greek German consortium will manage, the companies said in a statement.

Fraport and Greece's Copelouzos group have been awarded the management of the airports for 40 years as part of Greece's privatisation program. The airports include some of the country's largest, including northern Greece's Thessaloniki and Chania, Crete.

The upgrading process will be completed in two phases, including initially the airports of Thessaloniki, Kavala, Chania, and the islands of Zakynthos, Kefalonia, Corfu and Aktion. The second phase will involve improvements to airports on the Aegean islands of Rhodes, Kos, Mykonos, Santorini, Samos, Skiathos and Lesvos.

"New modern infrastructure and operational excellence will serve as a growth driver for local communities, contributing decisively to their economic development through the increase in tourism traffic, as well as by creating new employment opportunities," said Alexander Zinell chief executive of Fraport Greece.