Philip Morris has 100-mln-euro plan for Papastratos
Philip Morris International’s Greek subsidiary Papastratos yesterday announced a 100-million-euro investment in a new factory and premises in Aspropyrgos, west of Athens. «The plan is the biggest foreign direct investment in Greece since last year’s development law,» said Development Minister Dimitris Sioufas, who attended the company’s presentation. Papastratos’s Managing Director Laurent Boissart said the investment reflects the company’s commitment to a long-term presence in Greece and its confidence in the potential of the Greek economy. The project will receive a 20-million-euro subsidy from the government. The new plant, which is projected for completion in 2008, will have a production capability of 20 billion cigarettes annually.
