Wednesday November 26, 2014 Search
Weather | Athens
12o C
9o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Govt warning on Elliniko offer

By Vangelis Mandravelis

The tug of war over the concession of the Elliniko plot development in southern Athens has started, with the government stating that Lamda Development will have to submit a financial offer equivalent to the value of the project to be conceded in order for its bid to be accepted.

Deputy Development Minister Notis Mitarakis issued a statement on Thursday in which he described the technical offer for the development of the plot that once accommodated the capitals old airport as significant.

After almost 15 years of inactivity, it is particularly important that there is a significant technical offer for Elliniko, Mitarakis stated, adding: To make it clear, we have been saying from the start that the offer will need to reflect the value of the concession. Decisions will be made with the states interest in mind.

It is clear that Lamda Developments first bid has not satisfied the government as there is a difference of about 200 million euros between the money offered and the amount expected by the seller of the Elliniko SA company, which was formed by the state for the development and utilization of the plot.

Lamda is said to have offered 600 million euros, while state privatization fund TAIPED is reportedly asking for 800 million. Lamda is expected to add to its offer the cost of the development of infrastructure i.e. roads, squares, networks etc estimated at over 1 billion euros, and as a result will describe the investment as totaling 2 billion euros or more.

This gap of 200 million euros is not negligible, but it can be bridged. Over 10 years it breaks down to 20 million euros per annum, which will not be a significant burden for investors determined to spend 6 to 7 billion euros in the next decade, even if that makes the project somewhat more expensive.

ekathimerini.com , Thursday March 20, 2014 (22:31)  
Debtors snap up offer for easier settlements
Belgium gas firm said to be eyeing DESFA
OLP approval paves way for investment in Piraeus
Airport tender exceeds expectations
Hundreds of migrants on crippled ship off Crete
Ships from Greece rushed to help after a crippled freighter crammed with hundreds of migrants floundered for hours Tuesday in gale-force winds and high waves in the Mediterranean Sea, offici...
Policemen suspected of working at Piraeus bar where shooting took place
At least three serving policemen are thought to have been working at the bar in Mikrolimano, Piraeus, where a 31-year-old man opened fire with an AK-47 early on Saturday, resulting in 15 peo...
Inside News
SOCCER
Atletico eyes last 16 berth against Olympiakos
Greek champion Olympiakos faces a tough task if it is to prevent last season's beaten finalist Atletico Madrid sealing its passage into the last 16 of the Champions League at the Vicente Cal...
SOCCER
EPO ends soccer suspension, Super League resumes
Soccer action will resume this weekend after the Super League convened on Monday, elected a new president and alternate president and sent a letter to the soccer federation that assures it t...
Inside Sports
COMMENTARY
Beware of the fallen idols
Akis Tsochatzopoulos, a legendary figure of the Greek socialist movement, a man who came very close to taking over the party that governed the country for half of the time following the fall...
EDITORIAL
The hard truth
The coalition government must tell the truth to the Greek people, even if this entails admitting to mistakes made over the last few months. The countrys citizens are fully aware of how cruc...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Hundreds of migrants on crippled ship off Crete
2. Atletico eyes last 16 berth against Olympiakos
3. Debtors snap up offer for easier settlements
4. Belgium gas firm said to be eyeing DESFA
5. OLP approval paves way for investment in Piraeus
6. Airport tender exceeds expectations
more news
Today
This Week
1. Anastasiades to undergo heart surgery in the US on Dec 4
2. Cargo vessel carrying hundreds of migrants adrift southeast of Crete
3. Trade deficit widens by 8.7 percent during Jan-Sept period, says ELSTAT report
4. Two police officers among 9 arrested for drug trafficking
5. Fraport, Copelouzos offer highest bid for Greek regional airports
6. Stop Mediterranean becoming vast migrant cemetery, Pope tells Europe
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Biden heads to Istanbul amid tension over Cyprus EEZ violation
3. Give Greece a chance
4. Every age has its collaborators
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Scientists expand excavation of ancient Amphipolis
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.