The offer of the Fraport-Delta-Pileas joint venture for its airport was accepted Kalamata. This was announced by the Minister of National Economy and Finance from the stage of the “2nd Growthfund Summit”. Kostis Hatzidakissaying it is something that is another positive step for the Superfund and regional development.

As the minister said, the offer is much higher than the initial valuation and the total revenue for the State will amount to 71.2 million. euros, of which 45 million euro is a concession advance. While the consortium commits to make investments of 28.3 million euros in the first three years, with immediate priority being the renovation of the existing infrastructure. At the same time, for the immediate future, the creation of a new airport and the expansion of the infrastructure are planned, which will allow for an increase in passenger traffic.

In his keynote address, Mr. Hatzidakis said that the new legal framework for the Superfund has already been voted, and the five main parameters for it:

  1. The absorption by the Superfund of TAIPED and the HFSF, which marks the completion of their mission. During their operation, there were 13 privatizations or concession contracts and the receipts for the State were about 8 billion. euro.
  2. The modernization of the governance model of the Superfund, with the Corporate Governance Council replacing the Supervisory Board, the change in the way members are selected and the institutionalization of the participation of the State.
  3. The rationalization of the subsidiaries of the Superfund, following the example of PPC. Such as by attracting executives from the private sector with 4-year contracts and increased salaries, speeding up procurement processes and abolishing the participation of trade unionists in disciplinary boards.
  4. The different use of TAIPED revenues from the port utilization contracts. Instead of going 100% to the relief of the public debt, now 50% is allocated to the upgrading of the remaining ports.
  5. The creation of the new National Investment Fund.

As the minister said, with these five changes:

  • The operation of the Superfund as an active manager of public property and State companies is improved, with greater speed and efficiency.
  • Its contribution to the national economy is magnified, making more efficient use of public assets and mobilizing financial resources to cover the investment gap.
  • The everyday life of millions of citizens is improved, with the transformation of the Superfund’s subsidiaries into “small PPCs”. Today, the minister said, the services of the Superfund’s subsidiaries do not meet the expectations of citizens, such as e.g. with buses and trolleys and ELTA. Adding characteristics that “we say no to attachment to the Holy Dimosio”.

Ending Mr. Hatzidakis, said that in the last three years the Superfund created a value of more than half a billion euroincreasing the revenue by 14%.

From the same conference, the managing director of the Superfund, Grigoris Dimitriadis, stated, among other things, that the Superfund is now reformist fund and active shareholder in its subsidiaries, leaving behind the hitherto merely supervisory role.

He stated that where necessary, temporary administration was placed, such as e.g. with the ELTAwhile executives are also attracted from the market. Whereas, by 2027, the value of ETAD’s assets is expected to more than double, to approximately 2.2 billion. euro.

Dividend income amounts to about 3.7 million euro, while about 200 million euros are available for the public investment program. Finally, the organic value of the Superfund is valued at 700 million. euros, while there was a 2.6% increase in the return on its assets.

Finally, the president of the Superfund, Stefanos Theodoridis, said in his greeting that today the Superfund is entering the 3rd phase of its operation. During the 1st phase there was mapping and during the 2nd phase (2022-2024) there was an increase in the value of the property by 700 million. euros, while from 2019 to 2023 an amount of 113.4 million. euros was given to the State. The aim is for the Superfund to function as an accelerator of its subsidiary companies in modern and modern ones, said Mr. Theodoridis.