State-owned Hellenic Tourism Properties last month signed a concession agreement that grants operation rights for the Flisvos Marina facility on the Athens coast to the Lamda Technol consortium.
The lease agreement is for 40 years. The Floisvos Marina will be used during the Olympic Games as the official accommodation marina of 2004.
Main partners in the consortium are Lamda Development of the Latsis group and Olympic Technical, owners of the Porto Carras resort. The state tourism property company, which controls all properties owned by the Hellenic Tourism Organization, retains a 25 percent stake and will receive annual rents.
Lamda says it will invest 44 million euros in the facility and completion of the project is expected early in 2004.