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Electricity & Water companies, Athens Metro in Privatization Fund

Greece’ utility companies but also the Metro and other state companies will be trasnferred to the new Privatization Fund to go under the hammer so that the Greek government can receive the €2.8 billion bailout tranche.

A multi-bill containing 15 prior actions is to be submitted to the Parliament today, Friday, so that the second Program review will proceed in fast pace.

The state companies that will be privatized are:

Public Power Corporation (DEH) at 34%

Athens Water and Sewage Company (EYDAP) at 50%

Thessaloniki Water and Sewerage Company (EYATH) at 51%

Also  the Hellenic Vehicle Industry (ELBO), the Attika Metro and Buildings’ Infrastructures SA.

More than 20,000 employees fear of their jobs.

In summer, Athens Public Transport (OASA), Hellenic Railways (TRAINOSE), Greek Post (ELTA) and OAKA were transferred to the Privatization Fund.

According to Kathimerini, “The Hellenic Aerospace Industry (EAB) was on the original list but the government removed it, citing state security. The state-run power grid operator ADMIE was also on the list but the process for its privatization is a complex one and will be done gradually, according to government sources.”

Apparently other government sources told other media that :when is state company is being transferred to Privatization Fund, it doesn’t mean that it will also be sold automatically. If not sold, there will be better utilization and better management.”

After a Parliament debate the bill will be voted next Tuesday.

PS I will start to fill pots, bottles and canisters with water asap. Water privatization always mean price hikes. I will also need to buy a small car as transport fare will go up as well.

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One comment

  1. Blueprint for all public utility companies in Europe. They promise you better service for better prices but you will get quite the opposite. Expect to pay much more for a human right such as access to drinking water.