J&P - AVAX S.A announces its 19,5% participation in the share capital of the company "Piraeus Metropolitan Center S.A.", which through a concession agreement with OLP S.A. dated on 1/10/08, will develop and operate the new Exhibition Center with complimentary commercial uses that will be constructed in the area Palataki of Piraeus Port Zone.
The Center will have an overall above ground area of about 60.000 sq. m. and 1.450 indoor parking spaces. Τhe investment, including the capitalized expenses of the development period, will reach approximately euro 90 Mil.
Τhe other companies participating in the share capital of "Piraeus Metropolitan Center S.A." are LAMDA Development S.A. (19,5%), REDS S.A. (19,5%), RΟΤΑ LTD (15,75%), DAMCO ENERGY S.A. (15,75%) and KLEARCHOS G. ROUTSIS S.A. (10%).