Construction Of The Stavros Niarchos Foundation Cultural Center To Begin In Athens

Construction Of The Stavros Niarchos Foundation Cultural Center To Begin In Athens PR Newswire ATHENS, Greece, Sept. 28, 2012 THE STAVROS NIARCHOS FOUNDATION ANNOUNCES THE JOINT VENTURE SELECTED TO BUILD THE STAVROS NIARCHOS FOUNDATION CULTURAL CENTER ATHENS, Greece, Sept. 28, 2012 /PRNewswire/ -- The Stavros Niarchos Foundation (www.SNF.org) announced today that it has selected the Impregilo-TERNA joint venture to construct the Stavros Niarchos Foundation Cultural Center (SNFCC) in Athens. Today's announcement is a landmark in the development of the project, as the SNFCC has now entered its final stage, and construction is expected to begin in October 2012. The Impregilo-TERNA venture was selected through an extensive process of international standards, whereby leading Greek and international construction companies were invited to submit their bids. The tender procedure 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 Impregilo and the Greek company TERNA was based on exacting criteria. The essential prerequisites for the commission were the quality and safety of the project's construction, based on the final architectural plans, and strict adherence to its budget and schedule, as well as the contractor's experience, know- how and financial viability.