Two important settings for LARCO and its employees, are foreseen, among other things, in the latest draft law of the Ministry of Finance, which begins its discussion in the Parliament today, as pointed out by the ministry.

Particularly: The special administration of the company is extended until February 7, 2024, in order to complete the disposal of the assets of LARCO and the State to the investor that resulted after the successful completion of the two parallel tender procedures carried out by the Special Administration and by TAIPED.

The granted extension is deemed necessary in order to complete:

  • The signing of the transfer contract between the special management and the successful investor.
  • The signing of the lease agreement between the State and the successful investor in the tender conducted by TAIPED on behalf of the State and the maintenance of the Larymna Factory Complex, until the installation of the investor.
  • The recovery of state aid.
  • The possibility of concluding fixed-term employment contracts with the company’s employees is extended until the end of 2023.