Bloomberg / Greece plans to merge hundreds of small water companies, as the government tackles a worsening drought that’s left reservoirs supplying Athens at the lowest level in three decades

Bloomberg / Merger of water companies and new fund for projects - More than 700 water companies, most of them controlled by municipalities, will merge into three

Greece plans to merge hundreds of water companies as the drought worsens, Bloomberg notes in an article.

Greece plans to merge hundreds of small water companies as the Greek government tries to cope with a worsening drought, with dams supplying water to Athens at their lowest level in three decades, according to the news agency’s report.

Prime Minister Kyriakos Mitsotakis will chair a meeting at 10:30 a.m. at the Maximos building where the national water plan will be presented.

Monumentary meeting of the National Council of Greece will be held at the Municipal Council of Greece in Moscow.

More than 700 water companies, most of which are controlled by municipalities, will be merged into three to improve management of this precious resource, according to a person with knowledge of the plan. The existing companies for Athens and Thessaloniki – EYDAP and EYATH – will expand their coverage, while a third entity will take responsibility for the rest of the country, the person added, asking to remain anonymous as the plan has not yet been made public.

At the same time, the government will set up a new fund to finance dams, desalination plants and other investments to ensure water sufficiency, according to the same source. Attica and Crete will be designated as water deficit areas so that new projects can be accelerated.