ECONOMY

In Brief

Aegean Park to be built by spring 2004 Greek-Portuguese joint venture Sonae-Haragionis announced yesterday it will complete the construction of a fun park and commercial center in Athens covering more than 30,000 square meters by the spring of 2004. Called Aegean Park, the fun park will be built in the Athens suburb of Neo Faliron. The Aegean Park will cover 31,500 square meters and will have around 300 stores and underground parking for 3,200 cars, the companies said. Portugal’s Sonae Imobiliaria and Haragionis joined forces in 1999 to develop commercial centers in Greece. This is their first project. Sonae’s main activities include the development and management of shopping centers. Haragionis, formed in 1932, is a real-estate developer with a real-estate portfolio of 110 million euros. (Reuters) Upfront pay. Lignite producers Varvoutis and Rozas, regular clients of state electricity producer and distributor Public Power Corporation (PPC) demanded that the company prepay 1 billion drachmas for 200,000 tons of the fuel. PPC having denied the request, the two went to see Development Minister Akis Tsochadzopoulos. They said they needed the advance payment for the quantities of coal that would be delivered later, in order to be able to pay their staff. Tsochadzopoulos refused their request, saying PPC had no business ensuring a private company’s employees were paid their salaries on time. Lukoil is believed to be willing to allow Hellenic Petroleum access to its oil reserves in the Caspian. The sources said it is also agreeable to sharing its exploration and production expertise with the Greek company and make available its natural gas to Greece.