Greek Assets Body Set to Run New Round of Privatization Tenders 

The port of Kavala. Photo Source: Kavala Port Authority

More than 8 billion euros have gone into the Greek economy through the capitalization of public assets, reaching a total of 20 billion euros including investments and concession fees, said Hellenic Republic Asset Development Fund (HRADF) Chairman Aris Xenofos, addressing an Enterprise Greece event ahead of a Russian Union of Industrialists and Entrepreneurs (RSPP) visit this week.

The port of Alexandroupolis

Representing the HRADF, known formerly as the Greek assets body TAIPED, Xenofos referred to the priorities for the year ahead, which include tapping into Greece’s thermal springs, regional ports, Athens International Airport (AIA), landmark properties and marinas – all of which are set to be tendered in the upcoming period.

Among the projects currently being examined is the Gournes property in Heraklion, Crete; ports at destinations along the Egnatia Highway, including those of Alexandroupolis, Kavala, Igoumenitsa and Corfu, for which competitions are scheduled to be announced by the end of the year, Xenofos said.

One of the most important assets, Xenofos noted, was the 30 percent share in AIA. “We estimate that the tender procedure could start in early 2019, just after the completion of the extension procedure for the concession contract, which is currently underway,” he said.

Athens International Airport

HRADF’s key concern is to encourage investment that initiates creative growth and ensures the efficient management of an asset; this includes innovation, and contributing to making Greece a prime investment destination and, of course, to extending the benefits to the community overall as the investment unfolds over time, Xenofos underlined.

Citing Russian Central Bank data, Xenofos said Russian direct foreign investment in Greece – in the areas of energy, telecommunications, tourism and real estate – in 2017 came to 733 million dollars, up by 7.3 percent against 2016.