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Newsletter December 2012


Privatizing Hellenic Railways

TrainOSE Privatization

Development Minister Kostis Hatzidakis said the privatization of TrainOSE—the operator of railway services in the country—will begin at the end of the first quarter of 2013.

The Greek government issued a legislative act—approved by the cabinet—which outlines the government’s strategy in restructuring Hellenic Railways, with specific timetables to implement a privatization plan for the group's commercial activities.

Under the plan, the government aims to set-up a company for the maintenance of Hellenic Railways rolling stock, called Rosco, the free transfer of rolling stock material to the state or a state agency, along with the free transfer of GaiaOSE’s shares (the manager of Hellenic Railways real estate assets) to the Greek state.

December 6, 2012
Source: ANA

Funds to Boost Development
Greece will receive 370 million Euro in European Investment Bank (EIB) loans for climate action and development of the knowledge economy, according to a EIB announcement.

The funding will be distributed as follows:
130 million Euro will be allotted to the Public Power Corporation (PPC) to promote energy security and efficiency in Greece. The loan is for a new power plant of Megalopolis, in the central Peloponnese, and it is a follow-up loan for the plant, bringing total EIB financing to date to 280 million Euro.

100 million Euro will go to the School Building Organization (SBO) in support of school facilities throughout Greece. This is the second and last part of a 200-million Euro agreement, and will include construction and renovation of 84 schools and the supplying of equipment to some 14,000 public schools.

140 million Euro have been allotted to Alpha Bank to help small and medium-size enterprises (SMEs) and mid-size companies (mid-caps) in Greece. The loan, in tandem with Alpha Bank, will support investments in tangible assets as well as provide working capital, mainly in the fields of manufacturing, services and tourism.

"The new loans, a total of 370 million Euro, signed for energy, schools and SMEs in Greece, contribute to the development of the key areas in Greece, and at the same time form a firm step toward economic recovery," said Dario Scannapieco, EIB vice president. "Now is the time to work together to restore growth that can only come from viable infrastructure and dynamic enterprises that harness innovation and advance opportunity.”

December 7, 2012
Source: ANA

Serving Cruise Ships
An ambitious project to expand the passenger harbor on the southern side of the port of Piraeus, that will be able to serve the largest cruiseships in the world, has been given the go-ahead by the Central Archaeological Council (KAS).

KAS approved an environmental impact study by the Piraeus Port Authority (OLP), after a stringent review of the project's effects on the Wall of Konon and the Tomb of Themistocles, which will be adjacent to the planned piers.

A car parking space will also be created in the environs of the new piers.

December 6, 2012
Source: ANA