Investments in Greece

Energy Investments Boosted

Development Minister Dimitris Sioufas approved the inclusion of 135 energy investments, budgeted at 200.5 million EURO, in the “Competitiveness” Programme, saying it was another initiative aimed to boost private energy investment in the country. The Ministry has already approved funds totaling 354.4 million EURO for private energy investments budgeted at 1.075 billion EURO. The Ministry said new units totaling 250 MW were included in the country’s renewable energy sources’ grid in the period from March 2004 to September 2006, raising the country’s power by 55 percent. The Minister said another 100 MW were expected to be included in the system by the end of the year.

Elefsis Shipyards in Programme to Build Frigates

Elefsis Shipyards on Wednesday announced the signing of a memorandum of cooperation with Armaris, a French group, to promote a Fremm class frigate ship for the Greek Navy as part of a five-year defense supply programme approved by the government last July. Fremm multiple-purpose frigates for NATO member-states are the biggest European naval programme in the last 60 years and envisages the building of 27 vessels. The programme started in November 2005 in France and Italy. Under the memorandum, Elefsis Shipyards and Armaris agreed to work together in building Fremm class frigates for the Greek Navy, promoting the Greek shipyard as a strategic partner for the French Navy’s programmes. Armaris is a joint venture between DCN and Thales offering integrated solutions to naval equipment supplies.

Hellenic Aerospace in Agreement with Alenia of Italy
On September 14, 2006, a new project contract  of 27.5 million EURO, was signed between Hellenic Aerospace Industry (HAI) and the Italian Alenia Aeronautica, expanding their commercial relations beyond the current contracts worth 97 million EURO. The new contract concerns HAI’s participation in the construction and assemblage of fuselage frameworks for the transport aircraft C-130J for the period 2007-2013. Mr. Tasos Filipakos, CEO of HAI and Mr. Giovanni Bertolone CEO of Alenia signed the contract.

Citibank to Expand in Greece
Citibank plans to expand its branch network to 100 units by 2008, from 64 currently, covering the largest cities in the country, Christos Vassiliadis, the bank’s General Manager said. Mr. Vassiliadis said Citibank’s network would gradually rise to 69 by the end of the year, to 85 by the end 2007 and to 100 in 2008, an increase of 50 percent during the four-year period. Citibank also plans to further expand its alternative networks, mainly ATMs, network and call center services. Citibank is the second largest franchise of Citigroup in Europe, with more than 650,000 customers.
METKA to Partner with Alstom

METKA SA, a member of Mytilineos Group, and Alstom signed a strategic partnership agreement envisaging the cooperation of the two companies in energy and environmental projects, marketing issues, preparation, submission and negotiation of offers in energy projects. The deal was signed by Evaggelos Mytilineos, Chairman of Mytilineos Group, and Patrick Kron, Chairman and CEO of Alstom. The strategic partneship agreement covers all energy projects in Greece and projects in the wider Southeast European region, including Cyprus, Albania, Bulgaria, FYROM, Serbia, Montenegro, Kosovo, Slovenia and Romania. In energy projects in Greece, METKA will lead most projects as a general contractor, while it will also prepare—with the support of Alstom—all future offers. The agreement places both companies in an ideal position to offer integrated energy services, based on natural gas, oil and lignite, in the framework of deregulating Greece’s energy market.

Source: ELKE

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