Greece Accelerates Privatization Programme

    Greek government has to present in European Summit in late March a convincing list of state-owned properties and companies that will bring EUR 50bn to the state through privatization and utilization of property.
    Government officials have already appointed privatization advisers for Public Gas Corporation (DEPA), Hellenic Defense Systems, and Loan and Consignment Fund.
    Moreover, Clifford Chance LLP law firm was appointed as legal adviser of European and foreign affairs, Alpha Bank, Rothschild & Sons LTD, and UBS Limited as financial advisers and Koutalidis law firm as legal adviser for DEPA.
    More appointments are expected in the following days, while the Biministerial Committee on Privatization plans to include Athens International Airport and Casino Mont Parnes in its priority list.
    Developments will also occur regarding Metallurgical Company, Hellenic Railways and Egnatia SA until the end of the year, while betting company OPAP, water supply companies and horseracing organization are expected to be in the privatization list in the future.
    Greek government will be focusing on the utilization of state property by 2012, while officials examine a list of properties to clarify which of them have proprietary issues.
    At the centre of attention are Elliniko area, Vouliagmeni marina, Anavussos salters and Tae Kwon Do Stadium in Faliro, while Afandou and Prasonisi areas in Rhodes Island are considered directly usable.
    Additionally, Vorras ski resort in Pella, an area next to Rio-Antirio bridge, Gournes area in Heraklio Crete and the former “Voice of America” in Xanthi are also in the list.