Gov't to draw up boundaries for Elliniko

Greece will soon define the boundaries of a site where investors plan to spend 7.9 billion euros to build one of Europe's biggest coastal resorts, the Culture Ministry said, in a sign the delayed project may eventually go ahead.

A consortium of Abu Dhabi and Chinese investors, led by Greece's Lamda, signed a deal in 2014 for the 99-year lease of a sprawling area at the former Athens airport in Elliniko and the development of a coastal town.

Greek lawmakers cleared the investment last summer and investors hoped excavation works could start in the first half of this year.

But the investment, a key part of Greece's privatization drive under its latest international bailout, has been fraught with delays as the authorities dragged their feet in demarcating the area and providing the necessary licensing.

A group of 18 lawmakers from ruling leftist SYRIZA last...