Investigative authorities in Europe are examining a controversial submarine cable project.
The European Public Prosecutor's Office (EPPO) is currently conducting an investigation into the Great Sea Interconnector (GSI) project, a planned subsea power cable linking Greece and Greek Cyprus. This was confirmed by Greek Cypriot President Nikos Christodoulides.
The investigation is said to involve a series of disagreements between Greece and Greek Cyprus, with a key dispute concerning the latter's expected financial contribution to cover ADMIE expenses for the GSI project. The Greek government has not yet received any information from the Greek Cypriot Administration about the ongoing EPPO investigation.
The Greek government has also expressed its commitment to the completion of the GSI project, despite these ongoing disagreements. The 1.9 billion euros ($2.2 billion) project is co-financed with 657 million euros from European funds. Greece's grid operator ADMIE has spent around 300 million euros ($349 million) on the project so far, with costs yet to be recovered.
The Greek government will seek more information from the Greek Cypriot Administration about the investigation, while the EPPO has not yet contacted the Greek government regarding the investigation. The European Public Prosecutor's Office is conducting the investigation outside Greece and Cyprus, but the Greek national branch of the EPPO has not yet launched its own formal investigation, only monitoring developments closely.
Greek Cypriot President Nikos Christodoulides also revealed that the EPPO has opened an inquiry into possible criminal offences regarding the GSI project. However, no further details about the investigation can be made public at this time, to avoid affecting its outcome.
Despite the ongoing investigation, the Greek government has not shared any studies suggesting that the GSI project is economically unviable, according to Marinakis. The expected annual contribution of Greek Cyprus towards ADMIE expenses for the GSI project over 2025-2030 is 25 million euros ($29 million).
As the investigation continues, both Greece and Greek Cyprus will need to address their disagreements to ensure the successful completion of the GSI project.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
- Abdominal Fat Accumulation: Causes and Strategies for Reduction
