ECONOMY

Privatization plan gets OK from TAIPED

privatization-plan-gets-ok-from-taiped

The governing board of sell-off fund TAIPED approved a blueprint on July 30 for the Asset Development Plan, or ADP, which provides for the privatization of all assets held in its portfolio as of December 31, 2014.

Under the new loan agreement between Greece and its creditors, from now until the end of October 2015, TAIPED must identify dates for the submission of binding offers for the Piraeus Port Authority (OLP) and its Thessaloniki counterpart OLTH, railway transport operator TRAINOSE and the Hellenic Railways Organization (OSE) without material changes to the tender conditions.

The Greek authorities also agreed to take irreversible steps on the sale of regional airports under the conditions applicable to already selected bidders.

The ADP program aims for a total revenue (excluding bank shares) of 6.4 billion euros from 2015 to 2017. The TAIPED portfolio in late 2014 contained ongoing tenders for several organizations including 14 regional airports and 10 regional ports.

An independent task force is to be implemented by October 2015 to identify opportunities and recommend operational objectives, structure and governance for the country’s new privatization fund.