The contests ended without results for the sale of LARCO’s assetsas well as the mining rights of the State and the metallurgy of Larymna, as the preferred investor that had emerged from these procedures (GEK TERNA and AD Holdings) announced last Friday in a letter to the relevant ministries that it had withdrawn its interest.

The letter, as stated in a statement by the Ministry of National Economy and Finance, highlights, among other things, the adverse changes that took place in the global market of energy, metals and especially nickel products, as well as the successive and ongoing entanglements in Justice. TAIPED was also informed about this, in order to proceed with the cancellation of the competition it held, for the mining rights and the metallurgy of Larymna.

This development, according to the ministry, is also proof that the opinions of “selling off a company with great value and hidden profits” do not correspond to reality, as can be seen from the investment interest that has been expressed.

The government, in cooperation with TAIPED, will immediately proceed with the review and, if necessary, the redesign of the structure of the transaction with the aim of announcing a new tender, with the aim of finding a sustainable solution through reliable private investors which will provide a substantial perspective to the workers. For the workers, the additional transitional coverage measures announced by the government apply, on the basis of corresponding provision that had been taken in similar cases (such as the Skaramangas shipyards).

These measures include:

A. Employment program by DYPA in public bodies, with the following characteristics:

The program will last up to two years for those up to 55 years old and up to seven years for those 55 and over, with a gross monthly fee of 1,210 euros gross or 1,000 euros net. Acceptance bodies include Regions, Municipalities, Health Centers, DYPA and e-EFKA, in areas as close as possible to the employees’ homes.

The aim of the program for workers aged 55 and over is to fulfill the necessary conditions for retirement. These workers (up to 320 workers) can be employed for up to 7 years, to ensure up to their retirement with a monthly salary of 1,201 gross or 1,000 euros net (total estimated sub-programme cost of 40.4 million euros), in the following host agencies : Municipality of Aliartou, Municipality of Thebes, Municipality of Levadea, Municipality of Orchomenos, Municipality of Chalkidea, Municipality of Kymi-Aliveri, Municipality of Dirfio-Messapia, Municipality of Mantoudi-Limni-Agia Anna, Municipality of Kastoria, Municipality of Servia-Velventou, Municipality of Lokron, Region of Central Greece, Region of Attica, Region of Western Macedonia.

Accordingly, the aim of the program for workers under 55 years of age is their transitional coverage until they find employment through a new investor or elsewhere. These employees (up to 536 employees) can be employed for up to 2 years (12 months with the possibility of extension for another 12 months, following an application submitted by the host institution) with a monthly salary of 1,201 gross or 1,000 euros net (total estimated cost of sub-programme 19 .5 million euros), to the following recipient bodies: Ministry of Environment and Energy as well as Regional Forestry Services in the administrative boundaries of the Regions of Central Greece, Western Macedonia and Attica, thereof. Public Employment Service (D.YP.A.). Electronic Unified Social Security Agency (e-EFKA). Regions of Attica, Central Greece and Western Macedonia. Administrative Services of University Departments in Lamia, Thebes, Kozani and Chalkida. Hellenic Authority for Geological and Mining Research (E.A.G.M.E.). Ministry of Health: i. Livadia General Hospital, ii. Thebes General Hospital, iii. Chalkida General Hospital, iv. Kastoria General Hospital, v. Kameni Vourla Health Center, vi. Amfikleia Health Center, vii. Atalanti Health Center, viii. Aliartou Health Center, ix. Thebes Health Center, x. Livadia Health Center, xi. Schimatari Health Center, xii. Oinophyte Health Center, xiii. Aliveri Health Center, xiv. Psachna Health Center, xv. Mantoudi Health Center, xvi. Argos Orestikos Health Center, xvii. Amyntaio Health Center, xviii. Serbian Health Center.

For these programs, DYPA has already published the public call No. 6/2024 on 11/6/2024 through which the beneficiaries are invited to submit their applications, as well as the host bodies to declare the number of places they desire.

B. Measures for housing and health coverage of workers:

The government also extended the possibility of using the Larymna and Agios Ioannis residences, until the completion of the disposal process of the assets. For this purpose, a special amendment was passed that gives the Special Administrator the possibility to use part of the state aid that has been withheld, amounting to approximately 18 million euros, in order to cover the costs related, among other things, to the accommodation of the former employees of LARCO in the settlements that exist on the premises of the company, the carrying out of actions for the coverage of health insurance policies for necessary treatments, the operation of the clinics on the premises of LARCO and the renewal of the employment contracts of the necessary medical and nursing staff.