In this March 3, 2008 file air photo shows the old, decommissioned Athens airport in the southern district of Helleniko, part of which was used for Athens 2004 Olympic venues. Deputy Foreign Minister Spyros Kouvelis said Friday that a preliminary investment agreement worth a potential $5 billion has been signed in New York between Greece and Qatar. Planned investments are expected to include partial development of the former airport, which successive Greek governments had pledged to turn into a park, as well as transport and tourism projects. – AP ATHENS - Greece and Qatar have reached a deal on the broad outlines of an agreement under which Qatar would invest 5.0 billion euros ($6.7 billion) mainly in the Greek tourism and renewable energy sectors, to include a major redevelopment of a disused sports complex from the 2004 Olympics in Athens, officials said Friday. Deputy Foreign Minister Spyros Kouvelis said the preliminary agreement was signed in New York Thursday at a meeting between Greek Prime Minister George Papandreou and the Emir of Qatar, Sheikh Hamad bin Khalifa Al Thani. “This is a memorandum of understanding that notes the express interest of Qatar to invest up to $5 billion in Greece,” Kouvelis told state-run NET television. Areas of interest referred to in the deal include state-owned real estate as well as transport and tourism infrastructure, Kouvelis said, speaking at a Greek-Arab investment conference at a coastal resort near Athens. The agreement, which makes no mention of specific projects, also foresees investment in transportation, real estate and infrastructure. A six-member joint committee is to meet in the coming months to work out project details. “There's no question of creating a Las Vegas or promoting casinos,” Greek government spokesman George Petalotis said Friday after Greek media questioned the nature of the some of the planned investment. Qatar has already expressed interest in investing in a disused Olympic complex at an old airport at Hellenikon, south of Athens - that remains under state ownership - and a proposed liquid natural gas plant in western Greece. The site was used for several sporting events including fencing, baseball, and field hockey. Greece has promised to slash its massive budget deficit, and came close to bankruptcy in May before being pledged ¤110 in rescue loans from European countries and the International Monetary Fund. Kouvelis said the investments would be made through the Qatar Investment Authority following negotiations between the two countries at a special committee to be headed in Greece by the newly appointed Minister for Investment Haris Pamboukis. “There is no specific reference to Hellenikon (in the investment deal), though it is well know that Qatar has expressed interest in Hellenikon,” Kouvelis said. “Whatever happens, it will be consistent with our commitment to protect the environment and create a metropolitan park at the site.” Left-wing opposition parties criticized the deal. Six years after the Athens Olympics, more than half of Athens' Olympic sites are barely used or empty.
