Lease transfer of 2 sugar producing units of one-time state monopoly reportedly approved

Wednesday, 18 December 2019 12:39
Konstantinos Tsakalidis / SOOC
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By V. Vegiri

An agreement to lease two sugar production units in northern Greece, previously owned and operated by the debt-laden and loss-making Hellenic Sugar Industry (HSI), has reportedly received the "go ahead" by the relevant development ministry, which "inherited" the insolvent company.

A relevant tender generated a top offer by a business scheme comprised of the non-systemic Co-operative Bank of Central Macedonia and Royal Sugar.

A meeting on Tuesday, chaired by Development and Investments Minister Adonis Georgiadis, reportedly approved of the lease transfer of the two units, one in Platy, Imathia prefecture, and another in Serres prefecture.

Sugar producers in Greece rely almost exclusive on sugar beetroots cultivated in the country.

An agreement signed early last month foresaw the handover of the two units within a 10-day period, something that was not accomplished, with Royal Sugar blaming the current state-appointed caretaker management of Hellenic Sugar.

Employees at the two units are owed October and November 2019 wages, whereas staff Lieatransfers to other state-owned and affiliated entities have also stalled.




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