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Greece eyes UK-style railway privatization
Page last updated at 09:05 GMT, Thursday, April 26, 2012 - 14:05 EST
Reuters:
Greece is considering breaking up its railway and selling the right to operate some routes to different companies, in an attempt to maximize proceeds from the privatization and sidestep regulatory hurdles.
The heavily indebted country had initially planned to sell Trainose - the monopoly that operates 500 freight and passenger routes on 2,500 km of railways - as part of its international bailout.
But the chief executive of Greece's privatization agency (HRADF) told Reuters that to maximize the value of the sale Greece was now examining a different privatization model, similar to the one used in the United Kingdom.
"HRADF is considering the launch of a tender process through which the sale of train slots on different parts of the network will be offered to interested operators," Costas Mitropoulos said.
"Interested investors, as in Britain, will pay a cash consideration for the operation of the slots, using their own resources, as well as personnel," he added.
Mitropoulos said the agency will soon appoint an adviser for the sale.
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