Greece aims to start privatization of railway network within next three months

The tender for the sale of a 100 percent stake in the Hellenic Railways Organization (OSE) is to start by the end of the second quarter of 2013, the Greek government said on Monday.

Development Minister Costis Hatzidakis and the managing director of Greece’s privatization fund, Hellenic Republic Asset Development Fund's (HRADF), Yiannis Emiris said that the aim is to pick an investor by the end of this year or the beginning of 2014.

Hatzidakis said that a potential snag over state subsidies that was being examined by the European Commission has been overcome.

Emiris said the tender was made possible after OSE showed a small profit for 2012.

He added that efforts were also being made to launch a tender for ROSCO, the company responsible for the maintenance of rolling stock and railroad equipment.