ECONOMY

Rosco bids given March deadline

rosco-bids-given-march-deadline

The new deadline for the submission of binding bids for the Hellenic Company for Rolling Stock Maintenance (Rosco) is March 15, as state sell-off fund TAIPED wants to coordinate the process with the privatization of the national train operating company, Trainose. The deadline for the latter is April 26, after the announcement of the new tender.

The reason for the fresh delay is the need to iron out any bumps between the two rail companies. Although the contracts issue is now closed, the Trainose case filed two years ago against Rosco for excessive charges for the maintenance of carriages remains outstanding.

The State Audit Council is expected to issue its approval for the corporate agreement between Trainose and Rosco, as well as that with railway property company Gaiaose, for the agreements to come into force. The approval is expected within a month, so the agreements will be signed by Trainose’s new administration, which has not yet been formally appointed.

Sources are speaking of strong investor interest in Rosco, led by the French (Alstom) and the Germans (Siemens), who are set to face off for the company, while the parties interested in Trainose include Chinese company Cosco, Watco from the US, and Greek firm GEK Terna.