Saturday October 25, 2014 Search
Weather | Athens
19o C
12o 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)  
TAIPED waits for green light from Eurostat
Trade deficit shrinks on big drop in imports
SMEs unable to claim subsidies
Taxes kept growing in second quarter
Athens, Nicosia satisfied by EU leaders´ stance toward Ankara
A reference in Friday’s European Council conclusions calling on Turkey to respect Cyprus’s sovereign rights left Athens and Nicosia content with the outcome of the European Union leaders’ su...
Suspended policeman chief suspect in cousin’s murder
A 27-year-old police officer who has been suspended from duty since 2013 for extortion, is being treated as the chief suspect in a murder committed in a suburb of Piraeus on Thursday. Police...
Inside News
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. A win is a win is a win for Olympiakos
2. TAIPED waits for green light from Eurostat
3. Trade deficit shrinks on big drop in imports
4. SMEs unable to claim subsidies
5. Taxes kept growing in second quarter
6. Thessaloniki Port expects 2014 to be record year
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. Clocks to go back 1 hour on Sunday
3. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
4. ECB vies for third time lucky in European stress tests
5. Cyprus GDP upgrade seen as boosting bailout exit plans
6. ECB bank assessment to show 6-billion-euro capital gap, Citi says
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Samaras’s crumbling Greek exit lacks backing from economists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.