Reports: Qualco the sole bidder in latest PPC tender for arrears collector

Wednesday, 26 June 2019 23:11
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By K. Deligiannis 

Only a single bid was submitted in a new international tender issued by the Public Power Corp. (PPC), Greece's dominant power supplier, for the hiring of an outside consultant to manage customers with major arrears to the utility.

According to reports, one consortium led by Qualco submitted the only bid, with the latter already managing a portfolio of arrears owed to ATHEX-listed PPC. The tender was completed last week.

Qualco won a similar tender issued in November 2017.

According to reports, in the past year and a half the company has managed to retrieve more than 300 million euros in arrears, a much-needed cash infusion for the currently loss-making state-run utility.

Additionally, the company has completed installment plans for another 50 million euros in arrears.

The new tender's value reaches 15 million euros for the collection of 170 million euros, with an implementation period of 30 months.

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