(Adds more details on privatisations)
By Angeliki Koutantou
ATHENS Oct 23 Greece has pushed back the date
to submit binding bids for a majority stake in its biggest port,
Piraeus (OLP), to Dec. 3, the head of its
privatisation agency said on Friday.
Privatisations have been a key condition of Greece's
international bailouts, but the recession-hit country has raised
only 3.5 billion euros ($3.9 billion) since 2011, far below an
initial target of 50 billion euros for 2011-2015.
Athens is also set to miss this year's target of 1.4 billion
euros in privatisation revenues and hopes to raise 3.7 billion
euros from state asset sales in 2016.
Setting a date for binding bids for Piraeus and Thessaloniki
ports is one of the actions Greece needs to take to
unlock more bailout funds. EU/IMF inspectors visited Athens this
week to assess the government's fiscal and reform progress.
China's Cosco Group, Danish container terminal
operator APM Terminals and Philippines-based
International Container Terminal Services were expected
to submit bids for a 51 percent stake in OLP by Oct. 30.
But an early Sept. 20 election held up work and the deadline
has been pushed back.
"We had some delays with the concession agreements so we
moved the date to Dec. 3," Stergios Pitsiorlas, the head of
Greece's privatisation agency, told Reuters. "Investors have
After seven months of tense negotiations in Brussels, Prime
Minister Alexis Tsipras' government reactivated the country's
privatisation plan as part of its third 86-billion euro bailout.
The sale of Greek ports, airports and railways are among the
government's priorities, officials have said, but its plans are
likely to be faced with resistance from labour unions. Port
workers walked off the job on Thursday to protest against the
The submission of binding bids for Greek railways (TRAINOSE)
and its rolling stock operator (ROSCO) will also be postponed to
mid-January from December, Pitsiorlas said.
Three investors - Russian Railways, Siemens and
Alstom - were shortlisted for ROSCO in 2013.
Pitsiorlas said Siemens and Alstom were still interested.
Under its bailout, Athens had agreed to start the
privatisation of its power grid operator ADMIE this month or
find alternative ways to open up its electricity market. Greece
says it wants ADMIE's operations and its fixed assets
transferred to the state instead of being privatised.
A government official told Reuters that the lenders had
initially agreed on freezing the sale but the two sides were
still discussing the alternative plan.
($1 = 0.9069 euros)
(Reporting by Angeliki Koutantou; Editing by Mark Potter)