Port, Elliniko, re­gional air­ports to be fast-tracked by TAIPED

Kathimerini English - - Front Page - ILIAS BEL­LOS

The Hel­lenic Re­pub­lic As­set De­vel­op­ment Fund (TAIPED) has said that three ma­jor pri­va­ti­za­tion projects and sev­eral smaller ones are be­ing fast-tracked by the gov­ern­ment. The goal is to set the process in mo­tion by Oc­to­ber this year, sub­ject to the gov­ern­ment and its cred­i­tors com­plet­ing all planned par­lia­men­tary and other pro­ce­dures, and bar­ring ad­di­tional de­lays such as early elec­tions.

TAIPED is in charge of pro­ceed­ing with all pri­va­ti­za­tion ten­ders that were in its port­fo­lio as of De­cem­ber 31, 2014. As agreed be­tween Greece and its cred­i­tors, the new 50-bil­lion-euro fund will be es­tab­lished in the next few months and will in­clude real es­tate, public par­tic­i­pa­tion and con­ces­sion rights.

By Oc­to­ber, the gov­ern­ment is re­quired to rec­om­mend an in­de­pen­dent task force in co­op­er­a­tion with the Euro­pean Union, which will ini­ti­ate the struc­ture and gov­er­nance of the new fund. Pro­pos­als for this must be sub­mit­ted by De­cem­ber with a view for the fund to be op­er­a­tional by March 2016 in agree­ment be­tween the Greek gov­ern­ment and the in­sti­tu­tions.

The first pri­va­ti­za­tions in­volve Pi­raeus Port Au­thor­ity (OLP), the Elliniko de­vel­op­ment pro­ject and 14 re­gional air­ports. Also on the list are the pri­va­ti­za­tion of the Hel­lenic Gas Trans­mis­sion Sys­tem Op­er­a­tor Ad­min­is­tra­tor (DESFA) and the sale of the re­main­ing 10 per­cent pub­licly owned share of OTE tele­com. DESFA will al­lo­cate 17 per­cent own­er­ship to third-party in­vestors who have al­ready been iden­ti­fied, while Azer­bai­jan’s Socar will re­duce its own­er­ship from 66 to 49 per­cent. Pri­va­ti­za­tion or other mea­sures that will make the In­de­pen­dent Power Trans­mis­sion Op­er­a­tor (AD­MIE) com­pletely in­de­pen­dent from the Public Power Cor­po­ra­tion are also sched­uled for the au­tumn.

Next in line are 10 re­gional ports and mari­nas of in­ter­na­tional in­ter­est, the Greek postal ser­vice ELTA, Eg­na­tia Odos (which man­ages the Egan­tia High­way), state in­volve­ment in Athens In­ter­na­tional Air­port, around 10,000 prop­er­ties and the rights for the nearly de­pleted off­shore gas fields in south Kavala.

Of the 50 bil­lion eu­ros that TAIPED is ex­pected to raise, 50 per­cent will be used to re­cap­i­tal­ize Greek banks, 12.5 bil­lion eu­ros will fund de­vel­op­ment and the re­main­ing 12.5 bil­lion eu­ros will be used for debt re­pay­ment.

Elliniko, on the south coast of Athens, was the site of the city’s air­port un­til 2001. It was uti­lized for nu­mer­ous sport­ing events dur­ing the 2004 Olympics but has been used only spo­rad­i­cally since then.

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