In the Development Law, in different regimes, two investment projects related to the aluminum extrusion units of Aluminco and Cosmos Aluminum were included.
Specifically, the expansion of Aluminco’s extrusion product capacity in Inofyta was included in the Development Law. In more detail, the decision published in Diaygeia states the following: “by the decision no. prot. 62291/ΙΠΕ/7/00307/Γ/Ν.4399/2016/17-06-2022 of the head of the general directorate of Development Laws and Foreign Direct Investments of the Ministry of Development and Investments was approved to be subject to the provisions of law 4399/2016, as applicable, and in particular to the General Entrepreneurship aid regime of articles 37 to 41 thereof (Cycle C), of an investment plan that refers “to the expansion of capacity of extruded products from 13,000,000 kg/year to 31,000,000 kg/year of the existing unit” (KAD main branch of activity: 25.11.2, Manufacture of structural metal products and their parts), in the Megali Rachi location of the Municipal Unit of Oinophyton of the Municipality of Tanagra of the Regional Unit of Boeotia of the Region of Central Greece, total eligible costs equal to 6,755,640 euros and total supported costs equal to 6,755,640 euros”.
The amount of aid in the form of the grant amounts to 297,586.80 euros and in the form of the financial leasing subsidy to 1,939,350 euros.
The investment plan of Cosmos Aluminum was included in the Development Law
Cosmos Aluminium’s investment plan, for the expansion of the existing aluminum extrusion unit, was included in the General Entrepreneurship aid scheme, and specifically the amount of aid in the form of tax exemption amounts to 4,987,500 euros.
According to the decision of the Ministry of Development and Investments: “by the decision of the head of the general directorate of Development Laws and Direct Foreign Investments of the Ministry of Development and Investments approved the inclusion in the provisions of the law 4399/2016, as applicable, and in particular in the General Entrepreneurship support regime of articles 37 to 41 thereof (Z ́ circle), investment plan of the company “COSMOS ALUMINUM JOINT STOCK ALUMINUM INDUSTRY” with company name “COSMOS ALUMINUM AE” which refers to “the expansion of an existing aluminum extrusion plant, with a final capacity of 54,000,000 kg/year of aluminum profiles” (KAD main activity sector: 24.42.22, Production of beams, rods, specified aluminum profiles), in facilities located at the 8th km of the Larissa-Athens EO, Nikaia Municipal Unit, Kilelere Municipality, Larissa Regional Unit, Thessaly Region, total eligible cost equal to 14,250,000 euros and a total supported cost equal to 14,250,000 euros”.
The amount of aid in the form of the tax exemption is 4,987,500 euros. The new dependent jobs that will be created by the implementation of the investment amount to 5 Annual Employment Units (AEM).
Source: AMPE
Source: Capital

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