The Salini Impregilo-TERNA joint venture undertook and completed the construction of the Stavros Niarchos Foundation Cultural Center (SNFCC). The specific joint venture was selected through an extensive process following international standards, whereby leading Greek and international construction companies were invited to submit their bids. The tender process to select the contractor lasted a total of 10 months, and involved eight companies. During the final stage of the process, four comprehensive bids were submitted and evaluated.
The selection of the joint venture of the Italian company Salini Impregilo and the Greek company TERNA was based on strict criteria. The fundamental prerequisites for the commission were, the quality and safety of the project’s construction, based on the final architectural plans, strict adherence to the project’s budget and schedule, as well as the contractor’s experience, know-how and financial viability. The decision to assign the project to a joint venture that includes a Greek company expresses the Foundation’s original intent, that the construction of the SNFCC brings significant and immediate economic benefits to the country. This is a commitment that takes on added significance under the current socioeconomic conditions. In accordance with the joint venture’s terms of agreement, Impregilo controls 51% and TERNA 49%.
The Salini Impregilo Group (www.salini-impregilo.com/en/) was founded in the early 1990s, but it is the end result of the evolution of four major companies – Girola, Lodigiani, Impresit and Cogefar – that have led the way in the global construction industry since the early 20th century. The companies that created Impregilo when they merged in 1995 were involved in the construction of roads, railroads and hydroelectric power stations that were instrumental in boosting growth in Italy and several other countries.
TERNA (www.terna.gr) was founded in 1972 and is involved in a wide range of public and private projects that require substantial budgets and complex know-how, such as road and rail networks, ports, buildings, hospitals, museums, industrial facilities, hydroelectric projects, dams, etc. TERNA is the construction company of the GEK TERNA Group.