By L. Karamara
Papastratos Philip Morris International this week announced a 300-million-euro investment for new facilities in Greece, with the initial impact to include the creation of up to 400 jobs in the crisis-battered country.
The cigarette manufacturer said a new unit for production of iQOS products at the current facilities in Aspropyrgos, west of Athens proper, will be built.
The new unit will mark the third facility by the US multinational in Europe, after Italy and Switzerland, for producing the iQOS line. The new unit is scheduled to come on line by the end of 2017.
Once operational, some 20 billion iQOS sticks will be produced in Greece with locally grown tobacco.