Transformative Logistics Center Developed in Aspropyrgos by HIG Capital with a 300 million Euro Investment
Streem Development who belongs to HIG Capital, a prominent American investment firm, is embarking on a groundbreaking project to establish an international logistics center in Aspropyrgos, Greece, with a substantial investment exceeding 300 million euros. This strategic move aims to revitalize the site of the former Hellenic Steel Factory, transforming it into a cutting-edge trimodal transportation and storage hub that leverages train, ship, and truck routes for enhanced logistics efficiency. The project, situated on a 291,000 square meter plot, is strategically located near the national highway, boasting train lines running through it and a licensed port, further positioning Greece as a pivotal logistics nexus in the region.
The initiative not only signifies a robust vote of confidence in the Greek economy, promising to inject an estimated annual benefit of 70 million euros, but also marks a significant milestone in urban and industrial redevelopment. By clearing the debt of the Hellenic Steel Factory and preserving around 600 jobs through its ongoing operations in Volos, HIG Capital's investment will catalyze the creation of approximately 3,900 jobs during the construction phase and 1,240 jobs in its operational phase. This transformative project has received strategic investment status in Greece, highlighting its potential to drive economic growth, foster international trade, and enhance the local infrastructure in Aspropyrgos.
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