BUSINESS

Egnatia’s trick to prevent its concession

VANGELIS MANDRAVELIS

TAGS: Privatizations

Egnatia Odos SA, the state company that is meant to see to the privatization of the homonymous highway across northern Greece, has made one last effort to stall the concession process, as the European Commission’s third post-program report revealed on Wednesday.

The company’s board has deemed some of the highway’s bridges to be “potentially dangerous,” without conducting any detailed studies in that field. The EC report says that there was no obvious cause for the change in the state of the bridges.

That way, enjoying the silent acquiescence of the government, the company tried to hamper the sale process, and it remains to be seen whether branding some of the highway’s features as unsafe will change the level of the bids offered in the tender procedure.

The Commission stresses that the company must say what measures it will take.

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