The company's decision to pull out of the Luxembourg project surprised the mayors of Bettembourg and Dudelange, despite their criticism of the project.
According to RTL sources, discussions on the continuation of the Greek dairy plant in Luxembourg were still being conducted by the Ministry of the Economy over the course of recent days, but turned out to be futile on Tuesday morning, as conveyed by minister Fayot himself.
The Greek investors decided to step back from the project after too much time had passed and the start of the construction was still being held back by local environmental concerns. The project was set to cost around €280 million and create 300 jobs. Following the incident, two further potential investors decided to step back from the land.
Franz Fayot said: "It's not the first project that has ended this abruptly. The talks lasted four years, which is far too long for a project like this. It must be much swifter in future. This is not a great sign for Luxembourg as a credible industrial developer, and it really is a pity. We need this industry, especially industries at the front of technological advancement that produce as ecologically friendly as possible."
Dudelange Deputy Mayor Dan Biancalana was surprised by the company's exit. Although critical about the project, he had given constructive feedback and hoped the plan would succeed.
Meanwhile, the 15 hectare real estate has already been sold back to the Luxembourgish government for the same amount as the initial transaction: €30 million.
"Companies that want to now invest or settle in Luxembourg will think twice before doing so," Bettembourg Mayor Laurent Zeimet said, in line with Fayot's opinion. "I hope we can learn from this case."
Minister of the Environment Carole Dieschbourg has stated that questioning the use of resources and maximising sustainability played a large role in the project's long delays, and must be dealt with at the start of negotiations rather than down the line.