BUSINESS

PPC plant sale process set to begin in May, end in October

CHRYSSA LIAGGOU

TAGS: Energy, Privatizations

The bill on the sale of Public Power Corporation’s lignite-powered units is expected to be put up for consultation next week, with its submission to Parliament to follow, after the draft has been completed by the Energy Ministry in cooperation with the European Commission’s Directorate-General for Competition.

The ministry’s plan is the for the tender process to begin in May so that it can be completed by mid-October.

The draft law provides that the staff who remain at the power plants cannot be sacked for six years, while the rest of the employees will be transferred to other PPC units. The bill also incorporates the entire set of commitments the ministry has made to the Commission in the context of the third bailout review, including that Brussels be the main observer of the entire sale procedure.

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