Newsletter August,2022,08


Also in this issue:

News in Brief – August 22

  • Enterprise Greece – The Board of Directors has appointed Marinos Giannopoulos as Chief Executive Officer of Enterprise Greece. With long experience in international finance and a distinguished academic career, Mr. Giannopoulos will help lead the agency into a new phase of strategic growth and its ongoing efforts to support Greece’s economy.

  • Natural Gas – Greece has sharply increased its storage capacity for liquefied natural gas with a new, floating storage ship at the country’s LNG facility on Revithoussa island near Athens. The ship will boost storage capacity at the terminal to 375,000 cubic meters from 225,000 cubic meters currently, allowing Greece and her regional neighbors to better weather any potential supply disruptions.
  • Offshore Wind – Parliament has approved Greece’s new law on the development of offshore wind energy. The government is now expected to proceed to the demarcation of suitable offshore sites and with the goal of installing at least 2 GW of offshore wind capacity by 2030.

  • Greece-Saudi Arabia – State officials and business leaders from Greece and Saudi Arabia have signed 16 bilateral business agreements worth more than €4 billion, underscoring the growing commercial relationship between the two countries. The agreements cover a range of sectors, including energy, shipping, aquaculture, waste management, construction, defense, food and tourism, as well as a landmark deal for a high speed data link.

  • Data Corridor – A consortium of companies from Greece, Cyprus and Saudi Arabia have signed an agreement to jointly develop the East to Med Data Corridor, an €850 million project for a land and submarine fiber optic data cable that will link Europe with Asia. The agreement, signed by Saudi-based stc Mena Hub, Greece’s TTSA and Public Power Company, and Cyprus-based CYTA, will help position Greece as a digital gateway to Europe.

  • E-Government – Greece has launched a new digital wallet allowing individuals to store an electronic version of their driver’s license and identity card, as well as sign select documents, on their mobile phones. Since rolling out e-government services three years ago, the Greek government now offers 1,500 public services online. According to estimates by the Hellenic Federation of Enterprises (SEV), the initiative has resulted in more than €268 million in efficiency gains for the Greek economy already and €1.3 billion over five years.

  • Ellinikon Project – Greek authorities have issued a building permit for the construction of the Riviera Tower, with work on the emblematic 200-meter tall tower expected to begin within a matter of weeks. The building, the first skyscraper in Greece, represents one of the signature projects in the €8 billion redevelopment of the old Athens airport at Hellenikon along the Athens Riviera.

  • F&B Deal — Three Cents Artisanal Beverages, an Athens company set up by four former Greek barmen has been acquired by Coca-Cola HBC for €45 million. The acquisition reflects the latest in a series of mergers and buyouts reshaping Greece’s fast growing agri-food sector.