TAIPED: Elliniko project to go ahead

Kathimerini English - - Focus -

A 7.9-bil­lion-euro plan to turn a derelict for­mer Athens air­port into one of Europe’s big­gest coastal re­sorts, in­cluded in Greece’s lat­est in­ter­na­tional bailout, will go ahead de­spite re­cent de­lays, a se­nior pri­va­ti­za­tion agency of­fi­cial said on Satur­day. Un­der the deal signed in 2014 and re­vised last year, in­vestors led by Lamda De­vel­op­ment will pay 900 mil­lion euros for a 99-year lease to turn the Elliniko site, a waste­land of de­cay­ing ter­mi­nals and rust­ing air­planes, into a sea­side town of ho­tels and res­i­dences. That project is ex­pected to cost 7 bil­lion euros. Lamda, which will be backed by China’s Fo­sun and Arab funds, had hoped ex­ca­va­tions at

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