Privatization

The Elliniko development project is again key to the privatizations program's revenues projections, this time for 2018.

The state is speeding up the process for the integrated use and upgrading of the key transport infrastructures in northern Greece, as sell-off fund TAIPED is aiming to quickly wrap up the privatization of Thessaloniki Port Authority (OLTH) by mid-March, as well as to enter the second stage of the tender for the Egnatia Odos highway and start the process for the concession of the port authoritie

Sources familiar with the privatization of natural gas network operator DESFA expect the deal for the sale of a 66 percent stake in the company to close by the end of February or early March.

The timetable for the completion of the three privatizations in the energy sector, which has just been agreed with the country's creditors, provides for the process for Hellenic Petroleum (ELPE) and Public Gas Corporation (DEPA) getting under way in March 2018 and that for the sale of 17 percent of Public Power Corporation (PPC) starting in June.

There will be no metro service in the Greek capital on Thursday, as workers walk off the job for 24 hours.

The strike has been organized by the SELMA union to protest government plans to include STASY, the company that operates the metro, into the state's asset privatization fund.

Luxembourg-based Aelius, connected to Brazil's EMS SA, has submitted all necessary documents for the privatization of Serbia's pharmaceutical company Galenika.

The Ministry of Economy, in charge of the privatization, announced this, adding that the other bid, fron Belgrade-based Amicus SRB, connected to the Swiss HBM investment fund, was rejected due to incomplete documentation.

Greece has agreed to sell its railways company to Italy's own state-owned operator for 45 million euros ($54 million) as part of its privatization drive.

The executive board of Greece's privatization agency, the Hellenic Republic Asset Development Fund (TAIPED), is set to approve a short list of candidates for the acquisition of a 66 percent stake in natural gas transmission system operator DESFA.

Greece aims to raise 6 billion euros in privatization revenues through 2018, the head of its privatizations agency said on Thursday.

Chairwoman Lila Tsitsogiannopoulou told reporters Greece was targeting 2 billion euros from privatizations this year and about 3.5 billion next year from the sale of stakes in telecoms group OTE and the Athens International Airport, among other assets.

The privatization of the Thessaloniki Port Authority (OLTH) may add up to 1.6 billion euros to Greece's gross domestic product in the coming decade, according to an IOBE study.