Productive Investments in Crete: Companies Visited by the Minister of Development
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Crete is currently experiencing a strong wave of productive investments supported by Greece’s Development Law, reflecting a broader shift toward a more diversified and competitive regional economy. As part of this investment cycle, Minister of Development Takis Theodorikakos visited key enterprises in Heraklion that are implementing major projects aimed at strengthening manufacturing capacity, upgrading infrastructure and creating high quality jobs.
Across the island, 95 investment projects are underway, with a total budget of €270 million and public support exceeding €140 million. These projects span manufacturing, tourism and industrial modernization, forming a significant pillar of Crete’s economic development strategy.
Plastika Kritis – Heraklion Industrial Area
The Minister’s first stop was Plastika Kritis, one of Greece’s largest producers of plastic products and a company with a strong international footprint. The group exports to 90 countries and operates subsidiaries and production facilities in France, Romania, Poland, Russia, Turkey and China.
The company has joined the Manufacturing (Cycle C) scheme of the Development Law with an investment of €10 million for a new production line of colored masterbatches. The project includes a €4.7 million tax exemption, supporting the expansion of the company’s production capabilities. Plastika Kritis employs more than 1,200 people and maintains a leading position in manufacturing, exports and industrial innovation.
Mitsis Rinela – Hersonissos
The Minister also visited Mitsis Rinela, part of the Mitsis Group, which operates 24 hotels and 12 spa and thalassotherapy centers in major Greek destinations. The hotel has been included in the General Entrepreneurship scheme of the Development Law for the full modernization of a five star hospitality unit.
In June 2026, the project was officially completed and certified, with eligible costs amounting to €16 million and public support reaching €4 million. The investment enhances the hotel’s operational standards and contributes to the region’s high quality tourism offering.
Strategic Importance for Crete’s Economic Model
During the visit, the Minister highlighted the role of productive investments in strengthening Crete’s manufacturing base and supporting employment. The island, known for its strong tourism sector, is now advancing toward a more balanced economic model that connects tourism with manufacturing, the primary sector and research.
In this context, the Minister referred to the new infrastructure of the Foundation for Research and Technology – Hellas (FORTH), which plays a central role in Greece’s research and innovation ecosystem and supports industrial development through advanced technological capabilities.
The companies visited represent key examples of how the Development Law is being leveraged to enhance production, competitiveness and innovation in Crete, generating measurable benefits for the local economy and workforce.
