Greece is expected to complete the concession of Egnatia Odos and the sale of DEPA Infrastructure within 2022, which will help achieve the annual target of 2.2 billion euros in privatization revenues, a Greek source familiar with the talks told Reuters.
In particular, the agency points out in the article that the consortium GEK TERNA and Egis Projects won last year the 35-year concession of Egnatia Odos for 1.5 billion euros.
“The signatures are expected to enter within 2022 and we hope that we will also have the approval of the contracts,” said the source, referring to the 658 km long highway.
At the same time, Greece is also expected to receive 476m euros from the sale of DEPA Infrastructure to Italgas by June, the source said, adding that approvals from the competent authorities are in the final stages.
As Reuters points out, since 2011 Athens has raised a total of 7.6 billion euros from privatizations, a key element of the three international rescue programs completed in 2018.
Under the enhanced supervision program, the country is committed to pursuing a privatization program that helps reduce debt, as well as modernizing state-owned companies by boosting economic growth.
Reuters notes that Athens secured just 680m euros from privatization in 2020-2021, as pandemic uncertainties reduced the value of its assets and discouraged investors.
In this context, the Greek government is also reconsidering the sale of a 30% stake in Athens International Airport, which was “frozen” due to covid-19.
ADP Groupe, Ferrovial and Vinci Airports are among the nine investors selected for the airport.
“There is still interest from investors who have been selected and we are considering the right timing and the right model,” the source said, adding that a return to a stable routine is needed for this move.
By June, binding offers are also expected for the sale of a majority stake in the ports of Alexandroupolis and Igoumenitsa.
The same source said that “some minimal investment will be needed to make these assets operational”.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
