From Kastoria and Thessaloniki to Boeotia, Crete and Xanthi, a new round of industrial investment worth close to €250 million is about to get under way. The list includes well-known names from Greece’s business community, such as the Tsakos family (pictured centre: Nikos Tsakos), Giotis, Manolis Vavourakis (pictured right) and Metlen, led by Evangelos Mytilineos (pictured left), as well as groups such as Titan and Thrace Plastics.
Eleven “Large Investments”, worth €246.48 million in total, have been approved for inclusion under the Development Law. Projected state aid amounts to €114.77 million, while the plans are expected to create 409.2 equivalent jobs.
Available data show that the largest single project, worth €34.23 million, is being directed to Boeotia by Metlen Energy & Metals. The projected tax exemption amounts to €11.01 million, with 57.8 new jobs. The region is already an important industrial hub for the group.
Two more projects are planned in the same prefecture. Kapachim is planning an investment of €23.88 million, with a tax exemption of €7.64 million and 30 new jobs, while KXA Paper Packaging is preparing an investment of €25.08 million, a tax exemption of €8.02 million and 63 new jobs. The three investments in Boeotia total €83.19 million, accounting for about a third of the capital listed.
In the food industry, Giotis is preparing an investment of €15.22 million in Aetolia-Acarnania. The projected tax exemption amounts to €6.09 million, and the project is expected to create 19.5 new jobs.
In Rethymno, Golden Goose, which is linked to businessman Manolis Vavourakis, is planning an investment of €15.52 million. The project is linked to the ready-meals sector, a market in which organised production and supplying food-service businesses are becoming increasingly important. The projected tax exemption amounts to €7.45 million, with 39 new jobs.
In Kastoria, Grammos Springs Water, which is linked to the Tsakos family, is planning an investment of €17.47 million. The company, known for its Arrena bottled water, has a projected grant of €13.11 million for the investment and is expected to create 43.7 new jobs. The move is part of its effort to strengthen its production presence in the bottled-water market.
The same regional unit is also home to the €20 million investment plan of White Aquila Energy and Infrastructure. The company ranks first in the scoring, with a projected grant of €15 million and 50 new jobs. Its activity is linked to planned data-centre infrastructure in the area of Argos Orestiko, adding a different strand to the investment landscape in Western Macedonia.
Two investments totalling €57.37 million are planned in Thessaloniki. Titan is preparing an investment of €32.37 million, with a projected tax exemption of €12.95 million. ZEO Bakery follows with an investment of €25 million, a tax exemption of €15 million and 62.5 new jobs.
In Xanthi, Thrace Plastics Pack is preparing an investment of €20.24 million, with a projected tax exemption of €10.12 million. Completing the list of 11 is Biokosmos, with an investment of €17.46 million in Larissa, a projected grant of €8.38 million and 43.7 new jobs. The company operates in the medical and scientific applications sector, broadening the range of industries represented in the list.
The total aid package is split between €36.48 million in direct grants and €78.28 million in tax exemptions.