Five major tourism projects in Ithaki, Viotia, Chios, central Greece and Crete, are awaiting the green light under the country’s “Fast Track” law, which accelerates the licensing procedures for private-public investments, according to Greek daily Kathimerini.

Investors who have filed under the law have expressed concerns as they are still waiting for a Ministerial Committee for Strategic Investments (DESE) decision.

Among the main projects for review is Ithaca Resort. An Australian group of investors have announced plans to build a mega luxury resort on the southern shores of the Ionian island of Ithaki to include six luxury hotels and 1,020 suites, a marina to accommodate 200 yachts, a golf course and a waterfront village.

With a budget of 123 million euros, Sportsland SA plans to establish a holiday village complete with suites, hotels, golf course, sports facilities and conference center some 75km from Athens in Viotia, central Greece.

Valued at 384 million euros, Solar Power Systems, a consortium of Greek and foreign interests, is awaiting the green light for the construction of nine photovoltaic power stations in central Greece, with a total capacity 470 MW.

Kerameia SA is planning to invest 150 million euros on the island of Chios for the development of a five-star 700-room hotel.

Dutch company Royal Vopak NV has its sights on the construction of an oil storage terminal in southern Crete, budgeted at approximately 500 million euros.