Elliniko bids not expected before end of February

By Vangelis Mandravelis

The deadline for the submission of binding offers for the major privatization project concerning the development of the Athens’s former international airport at Elliniko is apparently to be postponed to the end of February.

State privatization fund TAIPED is still awaiting the green light from the government before it can give short-listed investors the final draft of the concession contract. When that is done, investors will have to submit their final bids within one month.

Due to the size and the political and economic significance of the Elliniko project, TAIPED decided to give the draft contract to the government for informal consultation. That process started in November and although it had a one-month timetable, it has not yet been completed. Recently Development Ministry officials promised that the draft contract would be returned to TAIPED in the week starting on January 13.

Thankfully, market observers say that the assessment of the bids will not take long despite the complexity of the project – probably a few weeks – as the price will be the decisive criterion.