PPC’s tangible assets are to be transfered to the Greek State at a nominal value of €1
PPC’s tangible assets are to be transfered to the Greek State at a nominal value of €1

PPC’s tangible assets are to be transfered to the Greek State at a nominal value of €1

The transaction will be in terms of the generalized process of delignitisation that the country has recently adopted.
RE+D magazine
25.11.2021

"With one euro, many areas of mines will be transferred from PPC to the state as part of the delignitisation process", the Ministry of Development and Investment commented during the presentation of the "Fair Transition" legislation, which supports areas of Western Macedonia and Megalopolis, where lignite plants are expected to close by 2028.

Many mining areas that have been PPC’s tangible assets are to be transferred to the Greek State in terms of the generalized process of delignitisation that the country has recently adopted. According to the Greek Minister of Development and Investments the land fields will be transferred to the State at a nominal value of €1.

"With one euro, many areas of mines will be transferred from PPC to the state as part of the delignitisation process", the Ministry of Development and Investment commented during the presentation of the "Fair Transition" legislation, which supports areas of Western Macedonia and Megalopolis, where lignite plants are expected to close by 2028.

"The lands are coming to the State so that the restoration can be done by the Recovery Fund," said Deputy Minister of Development and Investment Nikos Papathanasis, and stressed that "the majority of them will go for leisure use." He even said that the Recovery Fund (RRF) provides €300 million for this decision of the government.

In addition, according to what was mentioned, the legal entity that is created is a legal entity owned by the State. "The lands to be transferred by PPC are being assessed and if the assessment is equivalent to the restoration, PPC will transfer the lands without receiving any consideration and then the RRF will come with money to restore the lands through PPC contracts. . That is, PPC, which is polluting, completely restores the lands through the value of the lands it transfers to the ownership of the Greek State ", said Mr. Papathanasis.