TAIPED seeks suitors for Trainose

State sell-off fund TAIPED is getting closer to the announcement of a new tender for the privatization of rail services operator Trainose. On Wednesday it published a fresh request for proposal (RFP), inviting investor interest, having secured the necessary approvals from the European Commission for the cancellation of the old tender and the launch of a new one.

According to the RFP, the new tender will take place on the same terms and in two stages. The first stage will begin on February 1 and conclude on March 21 with the submission of expressions of interest. The second will concern the the submission of binding bids by companies short-listed by TAIPED, which must take place by April 26.

The catalyst for this development was the privatization agreement for the Piraeus Port Authority. The concession of the 67 percent stake in OLP to Cosco alters the situation as the Chinese company’s undertaking of OLP’s management, the Car Terminal and Container Terminal 1 in Piraeus makes it also the favorite for Trainose as Cosco will become the railway company’s main customer.

However, TAIPED sources say that the interest of Watco Companies is still alive and that the US firm could also join the race for Trainose.