Click the logo to download your  free PDF version

           Click the logo to download your  free PDF version

 

To purchase this space contact Gordon

Greece has received six initial bids for the lease of a smelting plant operated by debt-laden Larco, one the world’s biggest nicker producers, the country’s privatisation agency HRADF said on Monday.

The deadline for the submission of non-binding bids for the Larymna smelting plant and related mining rights expired at 15:00 GMT on Monday.Commodity & Mining Insight Ireland, a consortium of GEK TERNA with Swiss-based AD Holdings, Mytilineos , Solway Investment Group, Tharisa and Trafigura Group have expressed interest, HRADF said.

Larco, which is 55% owned by HRADF, was liquidated last year, following a decision by a European Court which said Greece had failed to recover €135.8-million of illegal state aid to the company.

 Last year, a special administrator was appointed to sell some of its other assets – mines, plots of land and other property – in a separate tender. The deadline for the expression of interest in that process expires on February 2.

The preferred investor in one of the tenders will have a right to outbid rival offers in the other tender under a shoot-out clause. Greece aims to have the process concluded by July.