PPC to seek consultant for part-privatization

Procedures for the part-privatization of PPC, the public power corporation, have taken a further step with the announcement of an international tender for a consultant to lead the effort in establishing a new subsidiary firm, representing 30% of PPC. This break-away section will then be privatized.

The corporation has uploaded a nine-page announcement for the privatization consultant’s position onto its website.

The tender announcement makes reference to the corporation’s assets which, based on decisions already taken, will be included in the new subsidiary, such as lignite stations, hydropower plants, mines, and part of the clientele list.

The successful candidate’s tasks will include detailing the company assets to be included in the privatization and establishing a business model for the new firm. An analysis of activities, functions, organizational aspects and other issues, along with advice aimed at ensuring a smooth transition to the new environment will be required, the announcement notes.

Preparatory work, monitoring, and ensuring all necessary aspects for the creation of the subsidiary – it is being referred to as “Little DEI” locally, from the corporation’s Greek title – will be required, as will the newly emerged firm’s readiness to operate, according to the job announcement.

The successful candidate will need to determine the 30% portion of PPC’s current clientele list to be transferred to the new subsidiary, the announcement notes. Also required will be a study and evaluation of how the parent firm will be impacted by the establishment and sale of the subsidiary.

Interested parties will need to submit their offers by September 8. An eight-month duration has been set for the position.