ECONOMY

Sell-offs to fetch 2.6 bln in 2013

The government?s privatization program for 2013 is back-loaded in terms of revenues, which are set to exceed 2.5 billion euros.

According to the draft budget tabled in Parliament this week, some 86 percent of the expected revenues, totaling 2.58 billion euros, is expected to come in the last quarter of the year, with 45 percent seen entering the public coffers in December 2013.

In contrast, the first half of next year will only see sell-off revenues of 360 million euros, the bulk of which will concern the concession of the license for the operation of state lotteries, set to fetch some 250 million euros.

The budget provides for the sale of the Athens Water Company (EYDAP), Hellenic Petroleum, the Hellenic Vehicle Industry (ELVO) and Hellenic Post within 2013, as well as properties belonging to the Larco General Mining and Metallurgical Company and Hellenic Defense Systems.

Next year will also see the start of the concession process for hydrocarbon reserves at Kavala, as well as marinas and regional airports and the port authorities of Piraeus and Thessaloniki, along with the extension of the concession contract for Athens International Airport. The state will sell a 30 percent stake in the latter.

The government will also sell and lease back 28 buildings that currently host state agencies or are standing empty. The budget also includes the Thessaloniki Water Company (EYATH) among the state assets for sale, but the start of that process is expected before the end of this year.

Legal and technical inspections regarding 110 state properties have been completed, and 55 can be put up for utilization immediately as ?the tender process has already started or preparations are under way for them to be put up for sale immediately,? the budget states, without naming any specific properties.

The midterm fiscal plan presented by the finance minister provides for a revenues target of 9.5 billion euros by 2016 from the utilization of state assets.