Important announcement

ELLAKTOR would like to inform investors that the Greek Ministry of Environment, Energy and Climate Change and the subsidiary thereof, AKTOR ATE, have entered into the “Licensing Agreement on Research into and Operation of the State Lignite Mine in the Vevi area in the Regional Entity of Florina”.

The conclusion of the Licensing Agreement is the last part of a series of procedures required for the re-operation of the lignite mine in Vevi which is to be fully completed by virtue of the ratification of the Agreement by the Greek Parliament.

The re-operation of the Vevi lignite mine in Florina is of significant importance both at a local level and nationwide, since it further ensures the energy sufficiency of the country.

The re-operation of the lignite mine will create nearly 500 full-time employment positions and nearly 2,000 indirect employment positions.

The Agreement concerns the mining of 120 million tonnes of lignite and also enables the exploitation of neighbouring DEI (Public Power Corporation of Greece) deposits.

The Agreements provides, among others, for the following:

• Initial term of licensing will be 15 years generating net profits for the Greek state that are liable to exceed EUR 150,000,000.
• Projects for the protection of the environment that are not limited to the scope of the applicable environment legislation, but exceed the total value of EUR 26,000,000 for the 15-year period.

Kifissia, 3 December 2014