The Hellenic Corporation of Assets and Participations (HCAP/Υπερταμείο) bases its strategy on three key pillars: the transformation of public enterprises under commercial criteria, the development of national infrastructure to make it investment-ready, and the promotion of high-value “new economy” projects through specialized investment vehicles.
Project Preparation Facility (PPF): Over €10 Billion in 80 Strategic Initiatives
A decisive role in executing this strategy is played by HCAP’s Project Preparation Facility (PPF), which acts as an accelerator for preparing and tendering large-scale projects on behalf of the Greek State.
Since 2021:
- The PPF has been assigned over 80 strategic projects
- These involve more than 900 procurement procedures
- Projects worth €4.25 billion have been tendered
- For Recovery Fund projects, 598 tenders totaling €2.5 billion were completed
- Savings exceeding €150 million were achieved through contractor discounts
The PPF also serves as a technical advisor for HCAP subsidiaries, handling projects such as the logistics center in Gono for GAIAOSE and the redevelopment of the Thessaloniki International Fair.
Major Programs in Health, Civil Protection, and Environment
Public Health: For the Ministry of Health, the PPF is implementing the largest infrastructure upgrade program in the National Health System:
- 93 hospitals and 163 Health Centers
- Budget: €493 million
- Completion: June 2026
Civil Protection: The “AIGIS” program under the Ministry of Climate Crisis and Civil Protection includes:
- Over 100 contracts totaling €1 billion
- Procurement of 8 Airbus H215 helicopters (€311.2 million)
- Surveillance aircraft, vehicles, and fire detection systems
Environment: Programs such as Antinero and the National Reforestation Plan under the Ministry of Environment and Energy involve €500 million in projects for forest protection and ecosystem restoration.
Infrastructure, Sports, and Urban Development
Key projects include:
- Comprehensive renovation of the OAKA Stadium (€130+ million), completion 2026
- Redevelopment of the Thessaloniki International Fair (€120 million), tender start in 2026
- Andreas Lendakis Government Park (€421 million)
- Fyli Logistics Park (€200+ million)
- Relocation of Korydallos Prisons (€600+ million)
Security, Transport, and Port Equipment
- Modernization of the Hellenic Police (€600+ million), including identity cards and passports (€400 million)
- Railway upgrade (€1.3 billion) by the Hellenic Railways Organization through 2030
- Coast Guard equipment program (€400 million) with new vessels and monitoring systems
Education and Social Infrastructure
- In five months, the tender for the Athens Student Residence Upgrade (€18.6 million) was completed, led by INEDIVIM.
HCAP’s New Role
Leveraging the PPF’s expertise, HCAP aims to overcome long-standing administrative bottlenecks, accelerate the preparation and execution of complex investment projects, and enhance the Group’s internal know-how.
Consolidating major public projects under a single planning and execution mechanism creates, according to government estimates, conditions for faster fund absorption, increased investment attraction, and a stronger developmental footprint on the Greek economy in the coming years.