A Greek government committee approved on Tuesday the construction of a 60 million euro building to accommodate biomedical research in Athens.
It will be built as a private public partnership (PPP), meaning that a private sector company will build and finance the project before handing it over to the state that will pay to use the facilities.
The building will be used by the Biomedical Research Foundation of the Academy of Athens (BRFAA) .
"The facilities will house state of-the-art laboratories that will provide specialised medical services in cooperation with universities, university clinics, research centers, hospitals, pharmaceutical companies, diagnostic centers and IT companies operating in the health sector," the Economy Ministry said in a statement.
The project comes as Greece has slashed public investments in a bid to meet spending cuts demanded by international creditors, in a move that is weighing heavily on the construction sector.