United Arab Emirates to Invest €7bn in Ellinikon

Abdullah bin Zayed Al NahyanForeign Minister of the United Arab Emirates, Abdullah bin Zayed Al Nahyan, has announced his country will invest seven billion euros in the redevelopment projects at Ellinikon and Asteras Vouliagmenis, while Greek Deputy Prime Minister and Foreign Minister Evangelos Venizelos estimated that it would create 50,000 new jobs.

There was a discussion during the signing of the bilateral cooperation agreements under the 2nd Joint Ministerial Committee of Cooperation between Greece and the United Arab Emirates.

Venizelos said that the signing of the bilateral cooperation agreement for the “Reciprocal Promotion and Protection of Investment” will create a comprehensive legal framework that is expected to “facilitate any investment initiative and any cooperation between the two companies, but also between the two governments.”

Venizelos said that the UAE’s participation in the Ellinikon and the Asteras Vouliagmenis projects is the start of collaboration between the two countries, especially renewable forms of energy, which he said is a field in which the country can improve.

Abdullah bin Zayed Al Nahyan said the UAE’s investor have strong interest in Greece and made special reference to the Ellinikon and Asteras Vouliagmenis projects. He described Ellinikon as one of the best locations in the Mediterranean.