Friday August 22, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Elliniko to partially open in 2017

The Elliniko development will open to the public in three years’ time, with work starting in 2015 when Lamda Development pays its first installment to the state for the coastal plot, privatization fund TAIPED told a press conference on Thursday.

“The added value for the country is huge,” TAIPED head Constantinos Maniatopoulos said.

It is estimated that the development of Athens’s former international airport on the city’s southern coast will generate 50,000 to 60,000 jobs, with Lamda having committed to investing 5.9 billion euros for the first 15 years.

The fund announced that the first part of the project, a large metropolitan park, is slated to open in 2017 – provided that it doesn’t run into any major obstacles.

Before the digging starts, the State Audit Council must first approve the tender result. Then the contract needs to be signed, with the submission of a letter of guarantee from Lamda amounting to 30 million euros. Also, the town and zoning plan must be completed, the Council of State needs to issue a favorable opinion on the development plan, and a series of other conditions have to be fulfilled before any work commences.

TAIPED’s executive director, Andreas Taprantzis, said that this process is expected to take one or two years. Once the deal is completed, Lamda will pay the first tranche of the 915-million-euro bid – i.e. some 300 million euros or 33 percent. In present value, the Lamda bid amounts to 577-704 million euros, depending on the percentage of the advance payment. The assessment of an independent counselor as to the present value amounted to 560 million euros.

TAIPED said Lamda’s proposal provides for the creation of a casino, but the state does not have to concede its operating license to the investor, as the licensing process would include a separate tender.

ekathimerini.com , Thursday April 3, 2014 (23:42)  
Report: Greek banks sturdily positioned
Economy stunted by property tax demands, report says
Primary surplus exceeds January-July target figure
Ryanair in Cyprus Airways talks
KEELPNO blames stomach bug for sick tourists on Rhodes
The Center for Disease Control and Prevention (KEELPNO) on Thursday contradicted foreign press reports according to which hundreds of tourists suffered food poisoning at a hotel on Rhodes ea...
KEPs to issue new and replacement driving licenses
Greeks and foreigners living in Greece will no longer have to queue up at the Transport Ministry to get new or replacement driving licenses as the government decided yesterday that Citizen S...
Inside News
SOCCER
Greek soccer officials in refereeing probe to face prosecutor on Sept 15
Eleven soccer officials were on Wednesday given until September 15 before they have to face prosecutor Aristidis Koreas, who is investigating allegations that the draws to decide which match...
ATHLETICS
Long jumper Tsatoumas takes Greece´s second silver at European Championships
Greece won its second medal at the European Athletics Championships in Zurich, Switzerland, on Sunday with Louis Tsatoumas coming second in the long jump. Briton Greg Rutherford won the even...
Inside Sports
COMMENTARY
Self-destructing political system
It finally seemed as if we had found some peace of mind. The vast majority of Greek MPs chose to abstain from festivities on August 15, also known as Assumption Day, thus sparing us from the...
EDITORIAL
Welcome movement
Many have spoken about the need to spur economic growth in this debt-wracked country, but very few officials seem to actually be doing anything meaningful to make this happen. Recent weeks h...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. KEELPNO blames stomach bug for sick tourists on Rhodes
2. Report: Greek banks sturdily positioned
3. Economy stunted by property tax demands, report says
4. Primary surplus exceeds January-July target figure
5. KEPs to issue new and replacement driving licenses
6. EU funds reserved for waste facilities in northern Greece
more news
Today
This Week
1. Merkel cites euro’s ‘construction flaws’ as economy sputters
2. Brussels warns Greece over plans to allow construction near Korinos beach
3. Second man held over double murder in Mani
4. Avramopoulos in US for talks with Hagel on possible Greek role in peace missions
5. Eurozone business growth slows in July, prices fall: PMI
6. Inspectors visit Rhodes to probe reports of mass food poisoning of hotel guests
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. Treating Amphipolis with care
3. Canada’s fiscal adjustment has lessons for Greece
4. Greece to offer law on restructuring bad loans next month
5. Ministry sys ‘no’ to debt collection agencies
6. Karatzaferis eyes ND-LAOS alliance to stop Tsipras
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.