Hellenic Corporation

Greece will set up its first sovereign wealth fund to sell state assets such as estate property, ports and public utilities that were not sold during its debt crisis, its finance minister said on Tuesday.

As Greece prepares to welcome the highest number of foreign visitors in its history this year, around 35 million according to expert estimates, basic public infrastructure remains woefully inadequate.

It was decided that the Hellenic Corporation of Assets and Participations (EESYP), widely known as Hyperfund, was to be established in August 2015 as part of the agreement with the country's European lenders for the 86-billion-euro loans of the third bailout agreement.

Greece is planning an initial public offering (IPO) for Athens International Airport, the country's biggest, on the Athens Stock Exchange next month, two sources with knowledge of the plan said on Wednesday. A draft law completing the necessary institutional prerequisites for the listing cleared Parliament on Thursday.

Νational Economy and Finance Minister Kostis Hatzidakis on Tuesday announced the start of the process to establish a National Investment Fund within the context of the Growthfund, in which the Hellenic Corporation of Assets and Participations SA (HCAP) has collected significant government assets under a single institutional structure for their more efficient operation and exploitation.

The government is examining a plan for the return to the state of the depleted Prinos gas field south of Kavala after the second unsuccessful attempt by state asset fund TAIPED to keep alive the vision of utilizing it as a natural gas storage facility, this time with the possibility of mixing hydrogen.

The Hellenic Corporation of Assets and Participations (EESYP), better known as the state asset hyperfund, has announced increased revenues and profits for 2019.

The government is determined to change the heads of the state property manager, the Hellenic Corporation of Assets and Participations (HCAP), and its subsidiary, the Hellenic Republic Asset Development Fund (TAIPED), charged with attracting foreign investors in the privatization of some of those property assets, over their handling of the privatizations and the dismal financial situation at ele

Archaeologists have raised the alarm over the prospect that some of the country's most important monuments, such as the Knossos Palace complex on the island of Crete and the Venetian Walls of its capital Iraklio have not been exempted from inclusion in the Hellenic Corporation of Assets and Participations (EESYP).

The bad management and waste in state companies continues unabated. One wonders what the state assets fund, the Hellenic Corporation of Assets and Participations, is doing about it.

Its executives are handsomely, if not excessively, renumerated and have clear responsibilities. They've had more than enough preparation time.