Hellenic Gold is launching capital investments of over 808 million euros over the next four years, guided by the Strategic Road Map that it recently announced. The company is transforming its operations to enhance security and productivity and create the necessary conditions for the successful financing of the total investment, which in its full development will lead to the creation of a total of 3,000 direct jobs. Specifically for the period 2021-2024, it is estimated that 1,000 new jobs will be added for the construction works in the Skouria project, 314 million euros of revenue will be generated for the Greek State, while 15 million euros will be invested in the society of NE Halkidiki, after consultation with local authorities.
The challenges
The main goal of the Strategic Road Map launched by Hellenic Gold, is to address the significant challenges that have been recorded for years in this investment and result in the company showing loss-making uses and high accumulated debts. Despite ongoing upgrade investments, existing mines remain unprofitable with 500 million negative cumulative cash flows. The company in 2020 recorded total losses of 84 million, of which 10 million came from the Mavron Petra Mine, which is unprofitable over time.
at TheTOC.gr
Source From: Capital
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