Sell-offs to fetch 20 bln by 2020

By Vangelis Mandravelis

Privatizations will fetch the country more than 20 billion euros by 2020 and create investments of 60 billion, Yiannis Emiris, the head of the state privatization fund (TAIPED), said on Tuesday at a conference orgainzed in Athens by the International Herald Tribune and Kathimerini, while presenting the second wave of sell-offs.

The Hellenic Republic Asset Development Fund?s chief executive said that following the first set of privatization projects, which is already under way and includes OPAP, Public Gas Corporation and the state lotteries, TAIPED will start the procedure for the second before the end of the year.

This second set will include the utilization of 28 state buildings through a sale and leaseback process, the signing of the concession contract for the Egnatia Highway across northern Greece, the sale of the Thessaloniki Water Company (EYATH) and the sale of certain assets that belong to the LARCO mining and metallurgical company.

Emiris added that TAIPED is in a race against time to start the process of utilizing the country?s marinas and regional airports.