BUSINESS

Delays to PPC, DESFA privatizations

VANGELIS MANDRAVELIS

TAGS: Privatizations

While more delays are holding up the privatization of Public Power Corporation (PPC) and gas grid operator DESFA, the concession of some of the country’s marinas is moving on.

On Wednesday, the board of state sell-off fund TAIPED annulled the tender for hiring a financial consultant in the sale of the 17 percent stake in PPC. This decision seals the fund’s intention to delay the sale of its share of the power utility until the transactions of the electricity producing units the company is promoting are completed.

It was TAIPED’s chairwoman, Lila Tsitsoyiannopoulou, who stated the find’s intention a few days ago. Speaking to reporters, she said that as long as the matter of PPC’s assets remains open, the TAIPED management prefers not to concede its 17 percent stake, implying, therefore, that the stake will be up for grabs next year.

The fund also expects a further delay on the DESFA front, as the Regulatory Authority for Energy has only just started the process of determining gas charges. That process, sources in the know said, could delay the privatization project by one or two more months, probably putting off the transaction of the 66 percent DESFA stake to 2018. The same sources did add that the new charges by RAE will offer a clearer environment for any investors interested.

What does appear to be moving ahead is concession of some of the country’s marinas. On Wednesday the TAIPED board was informed about the start of the procedure for the concession of the marinas at Argostoli, Zakynthos, Kalamaria, Rhodes, Itea, etc. The first step will be to commission consultants to assist in drafting the invitation of interest.

The sale of railway service operator Trainose to Italy’s Ferrovie is approaching completion, as the amended draft contract has been submitted to the State Audit Council for approval. TAIPED hopes that this process will be wrapped up swiftly and not put off until September.

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