BUSINESS

Lamda: Gov’t raises insurmountable obstacles to Elliniko

TAGS: Privatizations, Business, Politics

Lamda Development spoke on Wednesday of an unexpected reversal of the agreement with the government regarding the development of the old Athens airport at Elliniko, against the spirit of talks in the last 10 days.

It followed the joint ministerial decision Lamda received on Wednesday concerning the necessary opinion of the Ministry of Culture regarding all studies for tall buildings, special constructions, infrastructure works etc, and the ministry’s approval for every project around the planned park’s monuments.

"The decision sticks to the ministry position that raises insurmountable obstacles for the launch and the smooth evolution of the project," said Lamda.

"This obvious uncertainty puts in immediate risk the implementation of the investment itself," added the Athens-listed company that leads the consortium to undertake the project.

"The consequence of that is that after four-and-a-half years of efforts, the decision issued renders the investment uncertain for an unknown period of time, besides sending an exceptionally negative message for every serious investment, national or international," concluded Lamda's statement.

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