Elon Musk boosts Larco’s outlook

The next few months will determine the future of Larco, Greece's state mining and metallurgical company founded in 1963, but this month's tenders for its assets will likely be boosted by the founder and chief executive of Tesla Inc, Elon Musk.

It will all boil down to how attractive the tenders will be to investors -e. the tender that started a few days ago for the sale of the mines at Evia, Kastoria and Fthiotida and the parallel tender that state privatization fund TAIPED will launch today for the long-term concession of the factory at Larymna.

The appointment of a special administrator last March came with the obligation for the sale of the company's assets in case no investor is found; this decision was aimed at putting an end to more than three decades of Larco's problematic operation that has cost the state and its creditors more than half a billion euros.

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