Hellinikon Mega Project Incoming Gov’t Priority

The Hellinikon project. Photo Source: https://thehellinikon.com

The long delayed development of Athens’ former airport into a multipurpose hub dubbed “Hellinikon” has moved to the top of the new Greek government’s agenda with Prime Minister Kyriakos Mitsotakis expected to table a bill that will allow for the project to move to the implementation stage.

Following a ministerial meeting this week with Mitsotakis, Development & Investments Minister Adonis Georgiadis said he would be re-examining a joint ministerial decision which has stalled the 8-billion-euro project as well as take all the necessary steps for the finalization of the pending casino license.   

Georgiadis said he had been appointed by the Prime Minister to oversee the coordination and implementation of the major investment along the Athenian Riviera expected to create some 10,000 jobs and generate millions of euros in state revenue.

“The goal is to address any obstacle preventing the immediate commencement of this work as soon as possible,” said the new investments minister, adding that “the prime minister’s mandate must be implemented.”

Prime Minister Mitsotakis also laid out the key areas under the newly formed Development & Investments ministry’s authority of which he expects actions and results. These are simplifying and speeding up licensing procedures and setting specific deadlines, simplifying state-to-business relationships, facilitating liquidity, offering a second chance to heavily indebted businesses, easing over-indebted households, improving the framework covering the operation of business parks in order to attract investments, supporting innovation and entrepreneurship, and effectively tapping into all available EU and other funds.

It should be reminded that earlier this month, Lamda Development, the consortium behind the Hellinikon project said the Greek government was creating “insurmountable obstacles” that were putting the project at risk, adding that 4.5 years later, the plan was still up in the air.