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Plans for new hotel on Crete

Greek firm Athina AETB & TE is looking at a proposal for the construction of a new hotel on Crete in cooperation with a British company…

Greek firm Athina AETB & TE is looking at a proposal for the construction of a new hotel on Crete in cooperation with a British company.

Athina AETB & TE is also interested in establishing housing complexes in Halkidiki and on Aegean islands. It is currently awaiting approval of a 6.9-billion share capital increase from the capital market commission. It intends to distribute four new shares for every 10 old shares at a cost of 1,200 drachmas each.

Turnover for 1999 was 19.7 billion drachmas and profits topped 2.2 billion drachmas, representing an increase of 34% and 53% compared to 1998.

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