Trade with Greece
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Cyprus project, with the involvement of Greece’s
Public Power Corporation (PPC) and Cyprus’
Quantum Energy, as well and Israeli and Cypriot
institutional bodies. The project, with an initial
budget of €1.5 billion, will be one of the largest in
its kind and is expected to attract international
interest.
In the steel industry, omens are good for Corinth
Pipeworks SA (CPW, a subsidiary of Sidenor),
which looks forward to this year’s tenders for the
procurement of pipes for various pipeline projects
that are in the final stages of completion. The
most likely deal to be completed is that of the
South Stream pipeline, since CPW is entering the
process using the Greek-Russian joint venture
ZAOTMK-CPW (a partnership between CPW and
Russia’s giant TMK) as a trump card.
Developments in the South Stream case cannot
be ruled out during the first quarter of 2013, while
the situation regarding the other major contract
that the Greek company will seek to secure, will
be clarified later – possibly in the third quarter.
This contract concerns the TAP pipeline, a joint
project of Statoil, Eon, EGL, and BP, which, if
selected for carrying Azeri gas to Europe, will
move on to the implementation stage. CPW is
among the certified suppliers that have been
approved by Statoil for submitting bids.
In contrast, traditional steel mills have lower
expectations, which are confined to the resump-
tion of the major highway projects in 2013. If
financing for the projects is indeed secured, the
best case scenario provides for the stabilization
of domestic demand for steel products, which
