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The procedure for Astir Vouliagmeni may be in its final stages after the submission of 4 binding offers, but privatisation progress is generally much poorer than initially expected. According to information, the headquarters of the Privatisation Agency will be transferred to Luxembourg and the Agency for Public Private Property has only months to achieve the objectives for 2013.

This year, 1.3 billion euro from privatisation should be directed to the payment of debt, but only 920 million euro has been collected so far. And this goal is unattainable after the failure of the privatisation of the gas company DESFA, from which 188 million euro was expected.

Delays

The biggest delays include the privatisation of the water supply company in Northern Greece EYATH, 51% of which had to be sold by last October. The government is worried about the new conflict with SYRIZA because of the privatisation of state companies as a result of which the procedure will be additionally delayed.

News about the privatisation of the railway company TRAINOSE is expected in 2014. The French company Alstom is considered to be the favourite.

The privatisation of 14 regional airports is also quite delayed, despite the fact that major Greek and foreign companies submitted bids last summer.

The privatisation of the State Horse Racing Company is also delayed, although there are two interested investors. However, because of the way of taxation of the buyer, the procedure is likely to be further delayed.

There is some movement only in the operation of the Xenia hotels, mineral springs and state-owned marinas. Procedures should be completed by the end of the year, and in this way 61.4 million euro should be collected from the sale of 28 state buildings under the sale & leaseback method.

How much has been collected from privatisation:

Another 26 large and small competitions should be completed soon. 13 of them are in development, others are in the stage of preparation, and 11 have already been completed. The goal is privatisation revenues amounting to 1.3 billion euro this year. However, there are doubts that this goal is achievable, since only 900 million euro has been collected so far. The Troika reckons that 3.8 billion euro should be collected in 2014, in order to balance unmet goals from previous years – an issue about which the management of the Agency for Public Private Property is at least cautious. It is noted that the original goal was 2.6 billion euro in 2013, but the case of the gas company DEPA made it impossible.

Competitions in development

Competitions in development include the railway company TRAINOSE and the company which manages the public railways - ROSCO. Russian Railways, the French Alstom, in cooperation with Kopelouzou Holding, as well as the German Siemens have expressed interest in ROSCO. Efforts are being made so that at least TRAINOSE could reach the stage of binding offers.

There is some progress in terms of the competition for the water supply company EYATH. Joint bids that have reached the final stage include those between SUEZ Environment, which controls more than 5% in EYATH, and AKTOR Parahorisis, as well as between the Israeli company MEKOROT and "G. Apostolopoulos" JSC, MIYA Water Projects Netherlands - ΤΕΡΝΑ Energy.

Competitions in development also include those for the marinas in Pylos, Chios, Hydra, Poros, Nea Epidavros, and Alimos. 11 investor partnerships have aspired to most of them, including holdings such as Dogus and Koch, Chinese Fosun, Azimut Benetti, Lamda Development, ELLAKTOR, and J&P Avax.

After repeated delays, the deadline for submission of binding bids for state property ended in late November. Lamda Development of the Latsis Group, Qatar Investment Authority, London & Regional Properties and Israeli Elbit reached the final stage.

There are two investors in the competition for the Hellenic Horse-race Betting Organisation (ODIE) – the French RMV and the partnership between Intralot with an Argentine holding company.

14 airports

The second stage of the competition for the management of 14 regional airports, which are divided into 2 groups, now includes the French company Vinci (in cooperation with ELLAKTOR), German Fraport (together with Kopelouzou Holding) and Corporatio America from Argentina, in cooperation with METKA of the Mytilineos Group. The list of candidates also includes Swiss Zurich Airport (together with J&P Avax), the French company Aeroports de la Cote d'Azur, the Croatian Agrokor Novaport Development, Engelinvest Israel Ltd form Israel, the American investment company Advent and Athens International Airport which operates the Eleftherios Venizelos Airport and is controlled by Canadians.

The first group of airports includes those in Thessaloniki, Corfu, Zakynthos, Kefalonia, Aktios, Kabbalah, and Chania. The second group includes the airports of Rhodes, Kos, Santorini, Mykonos, Mytilini, Skiathos, and Samos. There are a number of airports that may be added to both groups.