ECONOMY

In Brief

Thessaloniki Port to detail offers by end-July Greece’s Thessaloniki Port Authority (OLTH) will detail tenders calling for investors to run its facilities by the end of July, once bidders’ objections have been looked into, it said yesterday. Greece, with two of the largest ports in the Mediterranean, launched a tender to sell and modernize outdated port facilities at the northern city of Thessaloniki and at Piraeus near Athens, aiming to turn them into regional hubs. «The company is now examining the objections raised. We estimate this phase will be complete by July 20, if there are no appeals. After that, the company will detail the offers made,» OLTH’s board of directors said in a statement. China’s Cosco Pacific, Hutchison Port Holdings joined by pharmaceutical group Alapis and Dubai Port World together with Piraeus Bank have submitted bids to run OLTH’s cargo facilities. (Reuters) Metka plans bid for 570-mln-euro PPC plant Metka, Greece’s biggest builder of electricity plants, plans to bid for a contract to build a 570-million-euro ($897 million) plant in the south of the country for Public Power Corporation (PPC). Metka will bid either on its own or with partners, the Athens-based company said in a bourse filing yesterday. PPC, Greece’s biggest electricity company, asked for offers for the construction of a 750-megawatt to 835-megawatt combined cycle gas turbine plant in Megalopolis, southern Greece, according to the filing. Bids are due July 8, according to Metka. (Bloomberg) PPI up Greek producer price inflation accelerated to 10.5 percent year-on-year in May from 8.9 percent in April, mainly due to high energy prices, data from the National Statistics Service showed yesterday. The increase brought the 12-month average annual PPI rise to end-May to 6.6 percent. In the same month consumer inflation surged to a 10-year high of 4.9 percent year-on-year. (Reuters) Hellas Online Hellas Online, a Greek telecommunications provider, plans to raise as much as 150 million euros ($235.5 million) in a sale of new shares to expand its network and market new products. The funds will be raised in an arrangement in which existing shareholders will waive their rights to the new shares, according to an Athens bourse filing yesterday. Hellas Online, formerly Unibrain, will issue 64.5 million new shares, though no price is yet available. Alpha Bank, National Bank of Greece, and EFG Eurobank will manage the sale and UBS is general coordinator, the statement said. (Bloomberg) T-bill auction Greece will auction a total of 340 million euros of 52-, 26- and 13-week T-bills on July 1, the country’s Public Debt Management Agency (PDMA) said yesterday. Greece will auction 70 million euros of 52-week T-bills, 120 million euros of 26-week paper and 150 million euros of 13-week T-bills, PDMA said. The settlement date will be July 4. Only primary dealers will be allowed to participate and no commission will be paid. (Reuters)