The terms of European funding for waste treatment projects are changing, and dozens of projects to manage waste that were frozen in the 2019-2023 four-year period are planned to start in 2025 as Business Insight of BnB Daily reports.
In different terms, opening up new business that could even reach €5 billion. It is known that in waste management projects there is gold in waste management projects, which is why the 4-5 big players in the construction/energy sector have already taken their positions; they have made their alliances. The field is paved: From 2024, the terms of European funding for waste treatment projects have changed and the local authorities will have to dig deep into their pockets. Big construction companies want to build and run Waste Treatment Plants (WTPs), Biowaste Treatment Plants (BTPs), landfills, and recycling infrastructure in cities through public-private partnerships (PPPs). They also want to collect and transport waste themselves instead of letting cities and regions do it. This has changed the situation.
Data that come to play into the hands of the Mitsotakis government's desire to open the way for private individuals to operate in areas that have hitherto been considered public services. But they also exploit a situation that has been characterised for decades by long delays, with Greece paying fines for uncontrolled landfills, failing to meet recycling targets, sending incorrect data on the basis of which subsidies are received, and losing tens of millions of euros from co-funded projects that are announced but not implemented.
Indicative of the hidden surpluses are the strategic cooperation agreements of the country's largest groups and the takeovers by the powerful in the sector. Terna Energy with Titan Cement International playing for the €202m PPP (Central Macedonia Waste), IntrakatWatt-Goecycle, Avax-Thalis, Elector-Aktor Concessions, Metlen-METKA participating in the €450m tender (in Northern Greece), etc. There had been previous strategic deals through acquisitions—Thalis-Elektor from Motor Oil Group, Watt from Hercules—strengthening the concentration in the sector. Huge performance/profit margins explain the intention of the management of PPC Metlen to operate autonomously, possibly through acquisitions. However, consolidation has minimized the players that could be potential targets for strategic partnerships or even absorption by one of the 4-5 large groups.
The most powerful is the 'Mediterranean' of the Dionysopoulos family, which for those familiar with the industry is something like... Last of the Mohicans. One of the big names in waste, water and clean energy management, the company came from EPEM, the creation of Dionysis Georgakopoulos, immediately after graduating from NTUA, and its evolution with the assistance of Angeliki Katsiou (later his wife) into "Mediterranean", which was destined for a 25-year period to play one of the leading roles. In this journey, one of the important milestones was the entry of Thanasis and Panos Laskaridis with the acquisition of 50% of the company (in 2010).
The two brothers held 50% through the Cypriot Cinda, a portion that came into their possession through Eurobank (when the Latsis family was in charge of it). After 14 years, the founder acquired a portion, which resulted in a new shareholding of: Dionysis Georgakopoulos and Angeliki Katsiou 28.5%, Mesogeios SA/shares 50%, and Eleonora Alegras, daughter of the late co-founder of the company, George Alegras, 21%. The recent share developments have strengthened Mesogeios from within, with the main shareholders responding negatively to the possibility of a sale—at this stage—but leaving open the scenarios of a strategic partnership with one of the Big 4-5 in the industry.
