By T. Igoumenidi
An environmental impact study covering the commercial exploitation of the Helleniko site in coastal southeast Athens was unveiled this week for public debate.
The 1,332-page study includes a detail description of the building plans and overall development of the massive site by an international consortium led by Athens-based Lamda Development, an investment in its initial stages reaching 6.7 billion euros.
According to information found in the strategic environmental assessment, an addendum to the financial impact statement for the investment, the overall impact of the project is calculated to reach 11.5 billion euros. This figure only includes the construction portion of the project, without including the multiplier effects what will arise from the operation of the businesses to be based on the site.
Moreover, 28 percent of the 11.5-billion-euro figure – direct and indirect economic impact – covers only the outlay for wages of wage-earners involved in the construction and operation of future businesses at the site.
