Greece announces deadlines for port, railway privatization tenders

A man fishes at the port of Piraeus, near Athens, Greece July 14, 2015.[Photo/Agencies]

ATHENS -- Greece's privatization fund announced on Thursday deadlines for the submission of binding offers for tenders concerning the privatization of Piraeus and Thessaloniki ports and the state railways TRAINOSE-ROSCO.

On the basis of the latest agreement between the Greek government and the institutions, the Hellenic Republic Asset Development Fund's (HRADF) Board of Directors set a deadline for October 2015 for the submission of binding bids for Piraeus port (OLP), Greece's largest port, according to an HRADF announcement.

Chinese COSCO Group is among the main contenders for the sale of a majority stake in the Piraeus Port Authority (OLP in Greek or PPA) which today runs Pier I at the port.

Since 2009 COSCO's subsidiary Piraeus Container Terminal (PCT) manages Piers II and III under a 35-year concession agreement posting impressive results.

Regarding the binding offers for the Thessaloniki port in northern Greece and the privatization of TRAINOSE-ROSCO the deadlines were set for February 2016 and December 2015 respectively.

The HRADF's press release was issued a few hours before Greek lawmakers vote later on Thursday on the third bailout agreement the country reached with international lenders earlier this week as part of efforts to stay afloat and in the euro zone, and to tide over the five year debt crisis.

The continuation of the privatizations in progress was part of the key conditions of the latest reforms-for-cash deal.

Greece launched its 50-billion-euro worth privatization program in 2010 after signing the first bailout with international creditors, but so far has missed timetables and revenues goals.