GEK Terna Holding Real Estate Construction ( el, ΓΕΚ ΤΕΡΝΑ) is a large

Greek Greek may refer to: Greece Anything of, from, or related to Greece, a country in Southern Europe: *Greeks, an ethnic group. *Greek language, a branch of the Indo-European language family. **Proto-Greek language, the assumed last common ancestor ...

conglomerate which is listed on the

Athens Exchange The Athens Stock Exchange (ASE or ATHEX; el, Χρηματιστήριο Αθηνών (Χ.Α.), ''Chrimatistírio Athinón'') is the stock exchange of Greece, based in the capital city of Athens. It was founded in 1876. There are currently five ...

. Its

construction Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and com ...

branch Terna is one of the leading enterprises of its sector in Greece. GEK Terna's

electric utilities An electric utility is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market. The electrical utility industry is a major pr ...

branch ''Terna Energy'' lately focussed on the production and transmission of

renewable energy Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...

. Through its subsidiary Heron S.A., it is as well involved in the construction and operation of

thermoelectric The thermoelectric effect is the direct conversion of temperature differences to electric voltage and vice versa via a thermocouple. A thermoelectric device creates a voltage when there is a different temperature on each side. Conversely, when ...

power generation Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its stor ...

fuelled with natural gas. ''Terna Energy'' is listed separately on the

( ).

Company

The company was formed when former competitors GEK and TERNA merged in 1999. Until 2008, GEK was the name of the holding with TERNA being its operational branch. The

Athens Athens ( ; el, Αθήνα, Athína ; grc, Ἀθῆναι, Athênai (pl.) ) is both the capital and largest city of Greece. With a population close to four million, it is also the seventh largest city in the European Union. Athens dominates ...

-based company has been listed at the

since 1969 and belongs to the 25 companies forming the

FTSE/Athex Large Cap The FTSE/Athex Large Cap is the stock index of the twenty-five largest companies on the Athens Stock Exchange. the stocks comprising this index are: Viohalco, Coca-Cola HBC AG, EYDAP, Terna Energy, Lamda Development S.A., Hellenic Petrol ...

index. In 2013, U.S. investment firm York Capital Magagement bought a 10% share of the company.

Rail privatization bid

Following the

Greek government-debt crisis Greece faced a sovereign debt crisis in the aftermath of the financial crisis of 2007–2008. Widely known in the country as The Crisis ( Greek: Η Κρίση), it reached the populace as a series of sudden reforms and austerity measures that ...

, GEK Terna showed interest in the planned

privatization Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

of Greek state-owned railway carrier

TrainOSE Hellenic Train S.A., formerly TrainOSE S.A. ( el, ΤραινΟΣΕ Α.Ε., pronounced ''trenosé'') is a private railway company in Greece which currently operates passenger and freight trains on OSE lines. TrainOSE was acquired in September 201 ...

. Together with the state-owned railway companies of Russia and France,

RZD Russian Railways (russian: link=no, ОАО «Российские железные дороги» (ОАО «РЖД»), OAO Rossiyskie zheleznye dorogi (OAO RZhD)) is a Russian fully state-owned vertically integrated railway company, both mana ...

and

SNCF The Société nationale des chemins de fer français (; abbreviated as SNCF ; French for "National society of French railroads") is France's national state-owned railway company. Founded in 1938, it operates the country's national rail traffi ...

, and Romanian private railway carrier Grup Feroviar Roman, it placed a joint bid for TrainOSE and the Hellenic Company for Rolling Stock Maintenance (Rosco), currently held by the

Hellenic Republic Asset Development Fund The Hellenic Republic Asset Development Fund S.A. (HRADF; el, Ταμείο Αξιοποίησης Ιδιωτικής Περιουσίας του Δημοσίου, ''Tameio Axiopoiisis Idiotikis Periousias tou Dimosiou'') or TAIPED ( el, ΤΑΙΠ ...

. Following the January 2015 legislative election, the new

SYRIZA The Coalition of the Radical Left – Progressive Alliance ( el, Συνασπισμός Ριζοσπαστικής Αριστεράς – Προοδευτική Συμμαχία, Synaspismós Rizospastikís Aristerás – Proodeftikí Simachía), ...

-led administration however put the decision under review.

References

Sources

External links

* — + {{Athex Large Cap companies Construction and civil engineering companies of Greece Conglomerate companies of Greece Renewable energy companies of Greece Companies based in Athens Energy companies established in 1969 Renewable resource companies established in 1969 Conglomerate companies established in 1969 Companies listed on the Athens Exchange Greek brands Greek companies established in 1969

Company

Rail privatization bid

See also

References

Sources

External links