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Three investment groups express interest for Greek railways privatization

Xinhua, April 15, 2016 Adjust font size:

Three investment groups have expressed interest for the privatization of the Greek railways operator TRAINOSE, Greece's privatization fund announced on Friday.

"The investment groups are: Ferrovie dello Stato Italiane S.p.A., Open Joint-Stock Company Russian Railways and GEK Terna Societe Anonyme Holdings Real Estate Constructions," according to a press release issued by the Hellenic Republic Asset Development Fund (HRADF).

HRADF's advisors will evaluate the expressions of interest and submit to HRADF's Board of Directors their recommendation as to which candidates qualify for the next phase for the sale of the 100 percent stake of TRAINOSE.

The deadline for the binding offers is set for May 31, 2016, the announcement said.

HRADF launched the international tender for TRAINOSE's privatization in January this year, after annulling the previous one "to attract bigger interest by investors," according to the Fund.

"We want a company with experience in the management of railways to take over... I believe that Piraeus port in combination with the upgrade of the railways services opens the Silk Road to Europe," HRADF Chairman Stergios Pitsiorlas told Xinhua in an interview in Athens earlier this week.

HRADF and China's COSCO Shipping signed in a ceremony in Athens on April 8 a deal for the sale of the majority stake in Piraeus Port Authority.

The 368.5 million euros (416.10 million U.S. dollars) agreement was hailed by both sides as a milestone in the development of Greece's largest port and further strengthening of bilateral cooperation. Enditem