Latest hurdle in Helliniko privatization reportedly affects Integrated Resort Casino tender
- Written by E.Tsiliopoulos
A relevant competition committee tasked with overseeing an international tender for an Integrated Resort Casino (IRC) at the Helleniko property development site in southeast coastal Athens will reportedly need another week to validate the legal and financial documents submitted by the two suitors that have submitted binding offers.
Reports claim the delay in the process is due to omissions in the documentation supplied by one of the two suitors, with even a detail emerging, namely, that a letter of guarantee included in the offer dossier is short by four days that the prescribed length.
The first reactions point to a further delay in the entire IRC tender and selection, with more than three months now cited for its completion, possibly more than six months.
Finalizing the IRC contact is imperative for concluding the entire concession deal for the Helleniko site between Greece's privatization agency (HRADF), acting on behalf of the Greek state, and ATHEX-listed Lamda Development. A 300-million-euro down payment is due once the concession contract is concluded, opening the way for Greece's biggest and most iconic privatization, the more than seven-billion-euro Helleniko property development project.
Related items
- Marinakis: Dialogue with Turkiye does not mean agreement but presenting Greek positions
- Kasselakis visits Greek ethnic minority towns of Bularat, Dropuli in southern Albania
- PM Mitsotakis visits Attikon University General Hospital and Daphni monastery
- Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
- Education Min Pierrakakis raises Chora Monastery conversion issue during Vatican visit
Latest from E.Tsiliopoulos
- Marinakis: Dialogue with Turkiye does not mean agreement but presenting Greek positions
- Kasselakis visits Greek ethnic minority towns of Bularat, Dropuli in southern Albania
- PM Mitsotakis visits Attikon University General Hospital and Daphni monastery
- Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
- Education Min Pierrakakis raises Chora Monastery conversion issue during Vatican visit