BUSINESS

Works at Elliniko could begin in late March

ILIAS BELLOS

The necessary demolitions and the other preparatory work on the plot of the old Athens airport at Elliniko will start at the end of March at the earliest, after the relevant amendment was passed in Parliament on Monday.

That period is required to attain the approval of the Central Archaeological Council and the Central Council for Modern Monuments.

Therefore Elliniko SA, which still belongs to state sell-off fund TAIPED, will be able to ask contractor Lamda Development to execute these works even before the financial completion of the transactions between the state (TAIPED) and Lamda.

This last step is likely to take more than two months as it requires the signing of a concession contract with the casino licensee to be selected and the completion the agreement between the Finance Ministry and Lamda as regards the distribution of the property’s ownership.

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