In an article entitled “Greece Reaps Benefits From This Underground Pipe”, Bloomberg reports today that the demands of the Trans-Adriatic Pipeline (TAP) have led to a major surge in Greek basic metals production in 2017.
While the Greek manufacturing sector’s growth was an anemic 2.2 percent in the first 11 months of 2017, basic metals growth was at about 22 percent at the end of that period, nearly ten times the manufacturing growth rate, according to data released by the Hellenic Statistical Authority, ELSTAT.
“Basic metals production has been the star of a modest manufacturing upturn in 2017, growing more than 21 percent, according to industrial production data released Tuesday covering the January-November period. Behind the surge is demand for pipes from the Trans-Adriatic Pipeline, an 878-kilometer (546-mile) project under construction since 2016,” Bloomberg’s Marcus Bensasson reported.
“Once built, TAP will offer a direct and cost-effective transportation route opening up the vital Southern Gas Corridor, a 3500-kilometre long gas value chain stretching from the Caspian Sea to Europe,” the TAP website notes.