Minoan’s Crete resort project nears exit of regulatory labyrinth

Travel company Minoan Group PLC on Wednesday said it has gained approval for its resort project in Crete.

Minoan shares were up 20% to 10.95 pence on Wednesday afternoon, one of the best performers in the AIM All-Share, after it said Plenum of the Greek Council of State has approved the draft decree for the project with no dissenting opinions.

The decree will now be forwarded to relevant ministers in Greece for final approvals, 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.