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Monday, 16 July 2012

The revised privatizations programme

By @galaxyarchis, translated by @Krotkie

Five months after the freezing of the privatizations programme, and mainly further to zero results of the Development and Privatization of public property Fund (TAIPED), the file is back with great intensity. Privatizations are coming back to the new government's (New Democracy-PASOK-Democratic Left) agenda, which is evident in the Prime Minister's, Antonis Samaras, first speech.

The five-year (2011-15) program of privatization of Utilities Services and utilization of public property, was adjusted in early 2012, with the expectation of  gains of around 3.2 billion euros. Nevertheles, only two privatizations will be finalised by the end of 2012, the rest of them being postponed to 2013, when the programme will be accelerated with the target of gains will be set of 7,4 bns for the two years together.

Outlook of the updated programme (2011-15) in detail:

Two services will have been sold by the end of 2012:
23 privatizations are postponed for next year: the target is that the following will have been privatized by March:
Also included in the privatizations list (until 2015):

·                     Public Lottery
·                     Building of International Radio-TV Center (IBC), built for the Olympic Games of 2004

·                     Public Gaz Company
·                     Greek Rails
·                     Old Airport of Elliniki
·                     Kassiopi
·                     Afantou

The next short-term privatizations, which are scheduled for 2013, but will most probably be postponed for 2014 are as follows:

·                     OPAP (Public Sports Bets)
·                     Greek Oil
·                     Water Company of Thessaloniki
·                     Larco
·                     Greek post
·                     Egnatia highway
·                     Horse races agency
·                     Greek
·                     Parnitha Casino and another 28 public buildings

Until 2015
·                     Piraeus port, Thessaloniki port and another 10 regional ports
·                     Thessaloniki airport and another 38 regional airports
·                     Small ports and marinas

Other programmes

Even though the Electricity Company (DEI) privatization (or part of it or its infrastructures), is considered as a top priority for the government, privatization of the "flagship" of public companies is still discussed. Apparently, political partied have agreed that its network should not be sold, but there are still ongoing discussions about which production units would be sold. This privatization is considered to be the most "thorny", as GENOP (the Comapny's Trade Union) is already in fighting stance.

Apart from DEI, concession extension contracts for the Athens airport and new highways are also expected.

Furthermore, the prime Minsiter stated in the government's policy statements, that a special management company will be established, which will deal with the management of the public property from Faliro to Sounio (seaside area in the south of Athens). It is worth mentioning that that this project is not included in the Memorandum, except for the area of the old Athens airport "Elliniko".

Already concluded privatizations

Up to now, 4 Olympic Airways Airbuses were sold for 40 mns euro, as well as game licences (VLT) of OPAP and an additional 10% of OTE (Telecommunications company) to Deutsche Telekom for 400 mns euro (NB: in 2008, 25% of OTE was sold to Deutsche Telekom for 3,2 bns euro).

IMPORTANT NOTE: This list will be updated further to the progress of the privatizations and public property development programme.

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