ECONOMY

Waste management contract signed in Western Macedonia

Athens-listed Ellaktor SA announced on Thursday that special purpose vehicle EPADYM had signed a partnership contract and the relevant financing agreement regarding a waste management project in Western Macedonia, northern Greece.

The total investment will be approximately 48 million euros, of which the European Investment Bank and the Urban Development Fund of Western Macedonia will contribute 13 million euros each.

National Bank of Greece will finance the construction value-added tax of the project with 5.6 million euros, and Aktor SA and Helector SA will supply 17 million euros in own funds.

The unit will have a waste processing capacity of 120,000 tons per year and a diversion to biodegradable waste rate of 80 percent.

It has a construction period of two years and is expected to directly employ at least 200 workers.

[Reuters]