Sunday October 26, 2014 Search
Weather | Athens
17o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Elliniko development will have major impact on economy

In the long term, the privatization and development of the old international airport plot at Elliniko, southern Athens, is seen creating about 50,000 jobs and boosting the country’s gross domestic product by 1.5 percent, according to a report by the Foundation for Economic and Industrial Research (IOBE). State sell-off fund TAIPED is scheduled to open Lamda Development’s bid for the project on Wednesday.

The report drafted upon TAIPED’s request showed that the Elliniko project will create 35,000 jobs during the realization of its development plan in the period from 2014 to 2025. In contrast, if the investment does not materialize, some 14,500 jobs will be lost through the fiscal adjustment measures that will be taken in 2014 and 2015 to offset the fiscal loss resulting from the concession’s failure.

The project concerning what is considered to be the most important property for development in the Mediterranean will lead to a 1.2 percent increase in Greece’s GDP as a result of growing investment demand and private consumption. The external balance will also benefit via the inflow of funds and incomes from abroad, while the concession of the plot after the completion of the tender will give prominence to Greece as a reliable and attractive investment destination.

The impact of the GDP growth will predictably be greater in the Attica region, while failing to concede the property for development would entail fiscal measures that would lead to the shrinking of GDP by 0.3 percent in the first couple of years, the report estimated. Therefore, IOBE concluded, “the concession not only has the practical cash objectives, but it will also have beneficial consequences on economic activity and employment.”

Tomorrow’s planned meeting of the TAIPED board will see the opening of Lamda Development’s offer for Elliniko. If the bid is not deemed satisfactory for the selling party, then the TAIPED board will ask the candidate buyer to improve its offer. It will grant the sole interested investor a 10-day period to raise its bid.

Reports have mentioned a bid amounting to 600 million euros that would not satisfy TAIPED, but all signs point to the two sides being able to find a way to complete the concession for the Elliniko plot.

ekathimerini.com , Monday March 17, 2014 (22:55)  
Nicosia says reforms are bringing results
TAIPED waits for green light from Eurostat
Trade deficit shrinks on big drop in imports
SMEs unable to claim subsidies
Samaras pledges action after flash floods in Athens
Authorities began on Saturday assessing the damage done by flash floods in various parts of Athens a day earlier, with Prime Minister Antonis Samaras pledging that all those affected would b...
No court hearings for civil cases
Greek courts are to stop conducting hearings, which include witness questioning, for civil cases, according to plans drawn up by the Justice Ministry. Kathimerini understands that in a bid t...
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
End of reason, end of humanity
The effects of a slew of new and increased taxes introduced since the start of the crisis were first observed in the wages of those still fortunate enough to have jobs, who saw their take-ho...
EDITORIAL
Banks need to step up
What has been leaked so far regarding the results of the stress tests on Greece’s lenders, which are due to be published on Sunday, appears positive. Greece needs a healthy, private banking ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Nicosia says reforms are bringing results
2. Samaras pledges action after flash floods in Athens
3. No court hearings for civil cases
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. Future of Attica trash set to become clearer
6. Policeman admits to murder of his cousin-in-law
more news
Today
This Week
1. End of reason, end of humanity
2. Samaras pledges action after flash floods in Athens
3. Banks need to step up
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. No court hearings for civil cases
6. Nicosia says reforms are bringing results
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. Stop moaning and get in the game
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.