Article 4
CONTENT OF GRANT
1 Undertakings under article 2 which carry out productive investments as defined in article 1 and are subject to the provisions of the present law in accordance with article 7, are entitled to an investment grant up to a maximum amount of 3 billion drachmas, consisting in free capital assistance from the State, provided they have not received any grant from any other source for the same investment. The said grant shall be awarded only for productive investments or a part of such investments up to 5 billion drachmas with respect to all categories of undertakings except processing undertakings which are entitled to a grant for productive investments up to a total of 25 billion drachmas.
In the case of productive investments in excess of 25 billion drachmas, par. 3 of the present article shall be implemented exclusively.
2 The limit of 3 billion drachmas is calculated by adding up the value of all the productive investments related to the same production process which are submitted by the same investor, in order for them to be made subject to the provisions of the present law, within a period of 5 years from the completion of the first investment which has already been made subject to the provisions of the law.
3 In the case of investments in industry and tourism of at least 25 billion drachmas which are regarded as particularly important for the economy, having a major effect on the international competitiveness of the country, as well as on employment, with the creation of at least 300 permanent jobs, and on the broadening of the production base, divergences from the limit stipulated in par. 1 of the present law (i.e. 3 billion dr.) may be permitted by virtue of joint decisions of the Ministers of National Economy and of Industry, Energy and Technology as well as of the jointly competent Ministers issued on an ad hoc basis.
With respect to the investments of this paragraph, the same decisions shall also determine the necessary divergences from the provisions of the present law concerning own participation, the procedure for the award of grants, the size of grants, the composition of the Advisory Committee, the interest subsidy, conditions governing the conveyance of undertakings, as well as the possibility of public corporations participating in the investment. By virute of the same decisions, undertakings which realize investments under the present paragraph may be granted the facilities and privileges provided under paragraphs 1, 2, 3 and 4 of article 3 and paragraph 6 of article 4 of Law 4171/61 (Government Gazette 93/A/61) Ňon the taking of general measures to assist the development of the country economy, which articles had ceased to have effect but which now come back into force.
This means that undertakings will have the exclusive right to use major harbour works which they constructed at their own expense, and the State will be able to concede to the undertaking the exclusive use of coastal or sea areas on an ad hoc basis. The expropriation of land belonging to legal persons of public or private law in favour of undertakings will also be permitted, as will the direct (without auction) sale to investors of land belonging to the State. The aforementioned joint ministerial decisions by which investments of this paragraph are made eligible for the provisions of the present law are subject to prior ratification by the Greek Parliament.
TABLE SHOWING TYPE OF UNDERTAKING AND MINIMUM SIZE OF PRODUCTIVE INVESTMENT REQUIRED IN ORDER TO BE MADE ELIGIBLE FOR THE PROVISIONS ON INVESTMENT GRANTS(1) AND INTEREST SUBSIDIES (OF ARTICLE 1, PAR. 3 AND ARTICLES 23a AND 23b)
Minimum size
TYPE OF UNDERTAKING TYPE OF PRODUCTIVE INVESTMENT
million dr.
Undertakings exclusively providing services Modernization 2
involving highly advanced technology Establishment - expansion 5
Laboratories engaged in applied industrial, Modernization 2
energy and mineral research Establishment - expansion 5
Undertakings engaged in the development Modernization 2
of technologies and software Establishment - expansion 5
All other undertakings except the above Modernization 10(1)
Listed houses or buildings or traditional workshops Repair, restoration,
conversion of listed traditional
producing traditional craft industry products houses or buildings into guest houses,
or handicrafts hotels or workshops producing
traditional craft industry products or handicrafts 15*
*increased to 25 m. dr. by Min. Dec. 43500/94 (1)
Agricultural, forestry, livestock and fishery undertakings Establishment or expansion 30 using modern technology
Undertakings of agricultural or agro-industrial Investments in mechanical means of sowing, cultivating,
co-operatives irrigation installations and systems, harvesting and packing
of agricultural products (establishment or expansion) 30
Undertakings engaged in the drying, freezing or dehydration Establishment or expansion 30
of agricultural, livestock or fish products
Undertakings engaged in the standardization and packing Establishment or expansion 30
of the above products
Undertakings producing biomass from annual or Establishment or expansion 30
perennial plants for the production of energy
Craft industry and handicraft undertakings Establishment or expansion 45
All other undertakings except the above Establishment or expansion 60(1)
Existing industrial processing undertakings Business plans of 2 - 5 years 1,000 (1 bn. dr.)
Existing software companies Business plans of 2 - 5 years 500
Industrial processing undertakings or Expenditures for studies, equipment, installations
undertakings providing quality services and the operation of the necessary infrastructures and procedures,
expenditures incurred for the certification of product quality 50
Expenditures for conversion aimed at making units
more flexible 50
Expenditures for importing environment-friendly technology 50
Expenditures for the production of innovative products,
the introduction of innovations in the production process,
the award of patents for inventions and prototypes 50
Expenditures for the expansion of laboratories providing quality services 50
Expenditures for the establishment of laboratories providing quality services 250
Expenditures for the establishment of industrial units for
the ecological dismantling/breaking up and use of products
consumed in Greece 250
Type and size Maximum Prerequisites
of investment investment grant
1. Investments No grant
by all categories up to 3 billion dr. from other
of undertakings source
(except processing)
up to 5 billion dr.
2. Investments No grant
by processing up to 3 billion dr. from other
undertakings source
up to 25 billion dr.
3. Investments Creation of
in industry and tourism ad hoc 300 permanent jobs
of particular importance award
for the Greek economy of grant Broadening of
in excess of 25 billion dr. the production base
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