Relief as Elliniko development obstacle is lifted

TAGS: Privatizations

A clause the Culture Ministry had intended to insert into the concession bill for the development of the old Athens airport plot at Elliniko will not be included after all, sources have said.

The ministry nearly torpedoed the concession’s ratification before the bill even reached Parliament by proposing a clause providing for the plot to be included among areas potentially protected for archaeological finds.

Winning bidder Lamda Development reacted strongly to the proposal but leaks about its withdrawal on Wednesday saw the company’s stock gain 0.45 percent, outperforming the rest of the market.