Development Ministry supports ELPEN’s investments

The Ministry of Development is supporting the investment of the Greek pharmaceutical industry ELPEN in Pikermi and the new model research and innovation center in the field of biomedical technology “Athens LifeTech Park” in Spata with 14 million euros.

Specifically, as the Minister of Development, Takis Theodorikakos, stated during his visit to the three production units of the Greek pharmaceutical industry ELPEN in Pikermi and the new model research and innovation center in the field of biomedical technology “Athens LifeTech Park” in Spata, the investment has been included in the strategic investments, is supported by the Ministry of Development with 14 million euros – grant and tax exemptions – and 1,600 new quality jobs are being created.

Theodorikakos, together with the Secretary General of Private Investments, Stellina Siarapi, were informed about the progress of ELPEN’s extensive investment program, which includes the upgrade of the factory in Pikermi, the construction of a new production unit in Keratea, the operation of Athens LifeTech Park in Spata and the establishment of an oncology drug production unit in Tripoli, with Win Medica.

Theodorikakos also referred to the recovery of money from old investment projects, saying: “We are recovering the money from those who received advances in the last 20 years, but did not complete their investments. Already 66 million euros are going to the state coffers and we continue the effort to secure money for serious productive purposes.”

Theodoros Tryfon: ELPEN is already planning the next five years

On his part, Theodoros Tryfon, co-CEO of ELPEN, emphasized that ELPEN is already planning the next five years, in collaboration with the state, on how state resources will be directed where there is high Domestic Added Value for the economy and society.

ELPEN’s investment program for the period 2020-2027 exceeds 300 million euros. In addition, its investment program contributes to the creation of 1,500 new jobs in the period 2023-2028, as well as the support of over 9,000 direct and indirect jobs in total throughout the supply chain.

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