EIB to su­per­vise the PPC plant sales

Kathimerini English - - Focus - CHRYSSA LIAGGOU

The busi­ness plan of Pub­lic Power Cor­po­ra­tion, in­clud­ing the list of the units to be put up for sale, will be su­per­vised by the Euro­pean In­vest­ment Bank, PPC’s big­gest cred­i­tor.

PPC’s board yes­ter­day ap­proved an EIB let­ter pro­vid­ing for its par­tic­i­pa­tion in a com­mit­tee that PPC will set up by Septem­ber 30 to su­per­vise the draft­ing of the cor­po­ra­tion’s busi­ness plan. This is the first time that EIB – which has sup­ported PPC with loans since the 1960s – will get a su­per­vi­sory role over the cor­po­rate plan­ning of the power util­ity, as a re­sult of con­cerns re­gard­ing the eco­nomic con­di­tion of the cor­po­ra­tion as well as PPC’s need for fa­vor­able fund­ing terms in the fu­ture.

The EIB’s su­per­vi­sion will in­evitably in­clude the plan­ning of the sale of lig­nite-pow­ered units, which is pro­ceed­ing with the con­tri­bu­tion by McKin­sey. The first list, which ap­pears to be de­fin­i­tive, in­cludes the two plants at Amyn­taio, the Meliti I unit that al­ready op­er­ates and the Meliti II that has been li­censed.

The En­ergy Min­istry and PPC are plan­ning to of­fer the above units plus a num­ber of mines for sup­ply­ing the plants in the long term as a pack­age to can­di­date in­vestors.

Pub­lic works of 2.5-3 bil­lion eu­ros are ex­pected to be auc­tioned by 2020, con­sti­tut­ing the new gen­er­a­tion of ma­jor projects. Some 1.4 bil­lion eu­ros of that con­cerns planned Line 4 of the Athens metro. Still, it does not suf­fice to cover the op­er­at­ing de­mands of big con­struc­tion firms in Greece.

PPC’s elec­tric­ity plant at Amyn­taio is among the lig­nitepow­ered units to be sold off.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.