A worker is seen at the construction site of Western Brazil Operation and Mentanance Center of State Grid Brazil Holding in Luziania, Brazil, July 23, 2013. State Grid Brazil Holding, a subsidiary of China's State Grid Corporation which was established in July 2010, focuses mainly on the power transmission and conversion. After three years of successful operation, the company now ranks fifth in Brazil in terms of the length of transmission lines. (Xinhua/Weng Xinyang)
by Maria Spiliopoulou
ATHENS, Oct. 23 (Xinhua) -- Greece's public power corporation (PPC) is assessing two bids submitted for the sale of a minority stake in power grid operator ADMIE, the company announced on Sunday.
China's State Grid International Development and Italy's TERNA in collaboration with the F2I investment fund have made the bids for the ADMIE stake.
"The process of choosing a strategic investor for the 24 percent stake in ADMIE is proceeding smoothly," according to a PPC press release.
The final day for submission of binding bids was Oct. 21, 2016.
Under the tender launched in the framework of Greece's third bailout signed in the summer of 2015, the Greek state can retain control of 51 percent of ADMIE or fully privatize the operator.
Under the timetable ratified by the Greek parliament, the preferred bidder must be chosen by October 31 and the agreement should be finalized by April 2017.