by The investments of Ts. Dalara in Greece, Intrakat learns… English, the energy project of an Israeli start-up in our country, the unnecessary extensions of TAIPED for the Attiki Odos and the retirement of the Commission with defense spending.
An old acquaintance, from the troubled times of the great Greek debt restructuring (the PSI of 2012), was in Athens yesterday. Well-known banker Charles Dallara found himself in an open discussion with Evangelos Venizelos, then Minister of Finance, with whom they had marathon talks to achieve the big “haircut” of Greek bonds. The representative of the country’s creditors in this tough negotiation had some pretty interesting things to say about 2012, but what he said about today is probably more interesting. He pointed out that the government has made encouraging progress in the economy and is on track to regain investment grade. In fact, he made it clear that these are not theories and diplomatic praise: the company he is currently involved in, the large private equity fund Partners Group, “decided to invest 1 billion in Greece, apparently while waiting for investment grade”, as Dallara says. If the man who knows better than anyone how painful the 2012 “haircut” was for investors has decided to trust Greek assets, that probably says a lot about the changes that have taken place over the past decade. in the economy.
— After the big move of Intrakat, with the acquisition of Aktor, it is reasonable that the ambitions extend beyond the Greek borders. Hence the activation of the company’s promotion plan abroad with the key element that it is now the second player in the Greek construction market. In the relevant English press release, with the acquisition of AKTOR in the foreground, extensive reference is made to the high order book as well as interest in the Attiki Odos expansion and tourist properties with the addition of the Apanema Resort in Mykonos. . This addition may have been made six months ago, but when you first introduce yourself to strangers, a Mykonos always catches the eye.
— An Israeli startup, Trisolar, specializing in the development of photovoltaics in greenhouses, will be tested for the first time this summer also on the Greek market, because through a European program, it will collaborate with the University of Thessaly. The project has attracted the interest of several Greek companies, especially after the increase in energy costs they have had to face over the past two years. We will linger around for a while longer, as we are informed that Rivulis is also planning an investment in photovoltaics, under whose roof Eurodrip has been for some years. On the roof of the latter’s factory in Viotia, it is planned for this summer, according to the ESG program of the multinational, to install photovoltaic panels with a power of 820 kW.
— Anticipating the new extension given by TAIPED for July 10 concerning firm offers for the new Attica Road concession contract, since on May 28, which was the last deadline, we would be in the middle of an election campaign. However, since all the above was more or less known and July 10 will probably not be lucky and another extension will be given, wouldn’t it be better over there TAIPED to give a date for the early fall right from the start, so that we don’t always have extensions that devalue the process and don’t show seriousness? It is recalled that eight projects have been pre-selected and have the possibility of submitting binding offers for the new 25-year Attica Road concession contract. The old contract expires in the fall of 2024.
— Several hopes have been raised for a full or partial exemption of defense spending from the deficit, with the announcement of the Commission’s proposal for the revision of the Stability Pact, where reference is made to “need to strengthen Europe’s security capacity”. However, the interpretation given a few days ago to the correspondents in Brussels by a Commission representative in this report went on a completely different wavelength than the expectations initially created. Giving an example of how deficit monitoring could be linked to defense spending, he said the Commission could grant an additional grace period for fiscal adjustment (seven years instead of four) to countries spending on ammunition in order to replenish the ammunition they sent to Ukraine. , as part of joint European decisions to strengthen the country attacked by Russia. Of course, all this does not mean that everyone in Europe interprets the issue of defense spending in this way. Nor that Athens will not insist, when the relevant negotiations advance, on the relevant proposal made by Kyriakos Mitsotakis from March 2022 for the partial or total exemption of defense expenditure from the calculation of the deficit. The debate is still in its infancy and, as always, the outcome of such European discussions is very difficult to predict.
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