The government on Monday announced plans to set up a “Helliniko SA” company, responsible for the management and exploitation of facilities of the former Helliniko airport and surrounding properties. The new company will have an equity capital of 1.5 million euros.

The establishment of the company was included in a new tax draft bill, tabled to Parliament on Monday. Under the plan, the transfer of any part or all the property will require a government legislation - after completion of the property’s value.

Minister of State Haris Pampoukis is currently visiting Qatar for talks over the exploitation of the former airport, while an inter-governmental commission for strategic investments unanimously agreed to include the Helliniko project in a fast track procedure for large-scale investments in the country.