Three privatizations and the activation of the State Investment Company constitute the main priorities of the Superfund management for the remaining months until the end of the year.
Read: 22 regional airports: The Superfund proceeds with their major concession
Greek Superfund puts three privatizations on waiting list – What to expect by year-end
The first involves the major pending issue of the Egnatia Odos concession, whose contract has been signed since March 2024 but has not been completed. This costs the Greek State money, as it does not collect the concession fee, while taxpayers contribute to road maintenance. It also costs human lives, as recently shown by the tragic accident at the Iasmos toll stations. Everything indicates that Egnatia Odos will pass to the concessionaire by the end of the year. Initially, the concession revenue (€1.35 billion) was budgeted to be collected in the first half, but now the planning is for this to happen by year-end.
Selection of preferred investor for Lavrio port
The second significant pending issue is the selection of the preferred investor for Lavrio port. The tender, carefully prepared by the (former) TAIPED, has attracted five bids from the biggest names in the cruise industry and shipping. A few weeks ago, bids were submitted and the announcement of the preferred investor is pending. Interest is very high, as Lavrio port could become the second most important port in Attica after Piraeus.
It has a large land zone and can support multiple activities, including cruise and coastal shipping, since it is much closer (than Piraeus) to popular Aegean destinations. Especially if there is a rail connection (suburban) to Lavrio or extensions of Attiki Odos are made, then Lavrio port could become much more accessible to certain areas of Attica than Piraeus.
The sale of 51% of Lavrio port and the development that the private investor will undertake could therefore bring more competition to Attica’s ports, with all that this entails. Additionally, it will make access to island Greece more accessible, especially to the Northern and Eastern Aegean.
Closing the pending Kalamata Airport concession
The third priority for the Superfund is closing the pending Kalamata Airport concession. The company announced in October 2024 the sole investment scheme that participated in the process as the preferred investor, but the transaction has not yet closed. It should be noted that the process of utilizing the 22 (regional) airports began in 2021, but four years later, the first and most commercial of the country’s public airports to be developed has still not been utilized.
Superfund priority is activating the Investment Company
Finally, a priority for the Superfund is activating the Investment Company it created at the beginning of the year. The company’s Board of Directors was recently appointed, but the investment committee has not yet been appointed.
Information suggests that the Board of Directors of the Hellenic Innovation & Infrastructure Investment Fund (HIIF) will also serve as the investment committee. However, this would exclude the company from the category of Venture Capital Investment Funds (VCIF), meaning from the institutional framework governing investment companies in Greece.
Published in MoneyPro of Parapolitika
