EU Commission report: Satisfactory progress with privatizations in Greece in 2021

By Olga Klontza

The latest report by the EU Commission on the course of privatizations in Greece cites satisfactory progress for 2021, with the highly anticipated Helleniko project in coastal southeast Athens topping the list, given that the final “signatures” are expected in the coming period.

Progress was also ascertained over the course of privatizations for several regional ports around Greece, along with better exploitation of state-owned real estate and an underground natural gas storage unit in the northern Kavala district.

Conversely, the Commission report points to continued delays over selling off 30 percent of the holding company that owns the Athens International Airport and a large stake in Hellenic Petroleum (Hel.Pe), the largest refinery concern in the country. Along those same lines, the privatization of the Egnatia tollway, which extends along the breadth of northern Greece, continued to lag.

The “highlight” of the report is Helleniko, with a final approval by the Court of Audit of an integrated resort casino concession at the site expected in June. Two lesser legal challenges also remain before the Council of State (CoS), Greece’s highest administrative court.

Every single legal challenge and obstacle faced by the landmark privatization has so far been cleared, although the delay in getting the massive real estate development project off the ground is measured in years.