Greece has decided to launch a competitive tender to sell a 23 percent stake in the country’s second-largest water utility EYATH, the finance ministry announced last week.

The government owns 74 percent of EYATH, the water supply company in the northern Greek city of Thessaloniki.

Greece has said it is looking for a strategic investor in EYATH as part of plans to raise 1 billion euros from state asset sales this year to reduce public debt.

The ministry said it will not reduce its holding in the company below 51 percent.

EYATH is also 5 percent-owned by France’s Suez Environnement. Greece will continue to control the price at which EYATH sells water and will also retain control over the company’s water and sewerage grid, the statement said.

The sale will not affect workers, the statement added.