State pays 350.9 million euros worth of debt to EYDAP

The government as approved a payment of 350.9 million euros towards the state-run water company EYDAP, as part of its obligation to pay outstanding debts. The government is also considering offsetting a further 293 million euro debt, for investments during the 2000-2010 period.

Specifically the Greek government aid 169 million euros for the debts accumulated by municipalities, 69.3 million euros for accumulated debts related to services provided by the water company and a further 112.6 million euros will be paid for a number of projects that EYDAP completed on behalf of the Ministries of Environment and Infrastructure.

With the government committing to the privatization of state-run water companies EYDAP and EYATH, it has agreed to cover the considerable debts towards the two companies before proceeding with the sale.

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