BUSINESS

Big-money sell-offs are stalling

By Vangelis Mabdravelis

The quarterly report compiled by the state privatization fund (TAIPED) for the January-March period expresses optimism about the progress of its work, but also features a list of sell-off projects that will have to be postponed.

The report announces the start of the process for the sale or utilization of nine state properties in the second quarter of the year, including the utilization of ports and marinas that had originally been planed for the third quarter.

On the other hand those companies burdened with state subsidies, such as gaming company OPAP and Public Power Corporation (PPC), will face delays, even though they were expected to fetch considerable amounts of much-needed cash.

However, the process of privatizing Hellenic Post (ELTA) has been brought forward, as the European Commission has deemed that the state subsidies it has received are compatible with European Law. Similarly the utilization of the Egnatia Odos highway across northern Greece is approaching as it is not bound by concession contracts, unlike other highways.

Online