Greece aims to start privatization of railway network within next three months

Greece aims to start privatization of railway network within next three months : The tender for the sale of a 100 percent stake in the Hellenic Railways Organization (OSE) is to start by the end of the second quarter of 2013, the Greek government said on Monday.

Development Minister Costis Hatzidakis and the managing director of Greece’s privatization fund, Hellenic Republic Asset Development Fund’s (HRADF), Yiannis Emiris said that the aim is to pick an investor by the end of this year or the beginning of 2014.

Hatzidakis said that a potential snag over state subsidies that was being examined by the European Commission has been overcome.

Emiris said the tender was made possible after OSE showed a small profit for 2012.

He added that efforts were also being made to launch a tender for ROSCO, the company responsible for the maintenance of rolling stock and railroad equipment.

A view of the abandoned main Athens train station taken on September 26, 2012, as Greece faces a paralysing 24 hours general strike and unions take to the streets to protest at a new round of sweeping austerity cuts to be brought in next month to unlock vital EU-IMF loans. The strike action is expected to bring the country to a standstill, disrupting flights, confining ferries to port, halting train services and shutting down the Greek public sector, including museums.       AFP PHOTO / LOUISA GOULIAMAKI        (Photo credit should read LOUISA GOULIAMAKI/AFP/GettyImages)

Source : Ekathimerini

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