In Brief
Terms are ready for the private power unit tender Development Minister Dimitris Sioufas yesterday approved the proclamation of the tender for the first private power production unit, to start operating from 2009, with two more tenders to follow by year’s end and next April. Sioufas spoke of a significant development for the economy, growth and energy, securing energy investments that will exceed 4 billion euros in the coming years. The three private units will be in southern Greece, have a capacity of 900 megawatts and use natural gas. Offers can range between 75,000 and 92,000 euros per MW, with a 12-year guarantee. The deadline for entry is six months from the tender’s proclamation by DESMHE, the Electric Power Distribution Operator. The General Secretary for Energy, Nikos Stephanou, said the investments for the construction of the three private units are estimated at 750 million euros. Turks to scrap plan for tax on offshore borrowing ANKARA (Reuters) – The Turkish government will scrap a controversial plan to impose a 30 percent withholding tax on offshore borrowing, Finance Minister Kemal Unakitan said yesterday. The minister said the government decided last week at a meeting with the Union of Banks industry lobby group to drop plans to tax offshore borrowing. «In line with the bankers’ request and the realities of the country, this will not be subject to 30 percent withholding tax,» he told reporters. A draft law discussed in a parliamentary sub-commission originally proposed taxing banks’ offshore borrowings to track fund flows and increase tax revenues. The banks opposed it, saying it would eat into their profits and make it more difficult to offer long-term credit to consumers. They wanted offshore borrowing to remain tax-free. MBA tour The Access MBA tour will be in Athens on Wednesday and Thursday at the Stratos Vassilikos Hotel. Access MBA, a member of the Advent Group, represents more than 120 different MBA programs and travels to over 20 countries throughout the year. Entry to the event is free of charge and candidates can meet with admissions directors from different business schools. More information is available at www.accessmba.com. Airport distinction Athens International Airport (AIA) received a Cargo Airline of the Year award from the Air Cargo News magazine and the Airports Council International (ACI) for its successful program in cargo transport over the last five years. AIA has managed to attract more cargo flights, with cargo traffic in the first quarter of this year rising by 7.9 percent from 2005. Alcoa in Bulgaria US giant Alcoa Inc has opened a plant in Stara Zagora, Bulgaria, to produce household wrap products, including foil, film and disposer bags, the company said yesterday. The world’s No. 1 aluminium producer said the facility is its first in Bulgaria and will produce packaging products for the retail market under the Reynolds and Baco brand names. (Reuters)
