Minoan Gets Further Approval On Crete Resort Project

LONDON (Alliance News) - Minoan Group PLC said Monday it has made further progress on the approval of its planned project in Crete from the Greek government.

The leisure company said the committee of the General Secretaries for the relevant Greek government ministries has approved the draft of the Presidential Decree regarding its project in Crete.

The approval marks another step in the final approval of the project and is the most significant approval received so far, Minoan said.

Minoan is planning a luxury holiday resort on a 26 square kilometre site at Cavo Sidero in Crete, comprising holiday villages, golf courses, a marina, and a conference centre.

Shares in the company were boosted on the back of the news, rising 10% to 15.42 pence in early afternoon trade.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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