More than one billion euros is estimated to be the cost after the unprecedented landslide in Amynteo, Greece, where more than 80 million cubic meters of land fell.

The cost stems from the fact that there were four cranes that are now considered totally destroyed and costing over 100 million euros each! In addition, the cost of removing the land may cost up to 100 million euros, while the Greek Public Energy Company (ΔΕΗ) will also have to pay half of the bill for the relocation of the village of Anargyroi.

Information also reports that the landslide struck a lignite mine. According to the first calculations, it seems about 25 million tons of lignite have been buried, the largest and best deposit of the mine.

In the following months, after intensive research in 3.500 acres of the landslides, they will be able to know in what quantities the deposit buried in the landslide is exploitable. If no recovery is possible, the damage should be estimated at around € 500 million!

Meanwhile, surveys attribute the unprecedented landslide to soil composition, breaks and archaeological services.

Now 220 residents from the neighboring village of Anargyri are hosted in hotels, as their homes have been damaged. Moreover, ΔEH had been told weeks ago that there was a risk of landslide as the cracks in the Anargyro houses had multiplied. Experts were observing the phenomenon and for safety reasons the mine was shut down as of June 3. They also moved the huge cranes. But no one expected the magnitude of the disaster. More than 80 million cubic meters of soil slid off the slope, eventually plumping four of the six machines…

This is a major blow for ΔΕΗ in the face of the partial privatization efforts that the creditors are pressing for.