Greece Makes Legal Provision to Push Ahead with Kassiopi Luxury Tourism Project on Corfu

A draft bill covering Greece’s much anticipated waterway projects approved this week has also paved the way for a long delayed, multi-million-euro tourism project to go up in the Kassiopi region of Corfu, clearing away all objections raised by local government.

The new law transfers jurisdiction and right of approval for licensing to the infrastructure ministry.

The Kassiopi project, to be implemented by investor NCH Capital, was scheduled to begin in 2019 after six years of bureaucratic and judicial hurdles.

NCH Capital was awarded the rights of the Kassiopi plot for a period of 99 years in 2012 after the Greek assets body announced a tender. The luxury tourism project is set to create 1,000 new jobs during construction and 500 per year once completed.

More specifically, the amendment included in the waterway law foresees that all relevant responsibility for investments related to the public assets body – the HRADF (Hellenic Republic Asset Development Fund) – and to the government’s privatization program will now be handed over to Infrastructure minister.

The aim, according to lawmakers, is to facilitate and “expedite administrative procedures for the authorization of complex projects, which are major and flagship investments for the country”.