Privatization of Piraeus Port Back on Track?

Plans to privatize Piraeus port in Greece are being put back on track, despite the intention of the country’s new government led by the left-wing party Syriza to stop the sale, writes the Wall Street Journal.

Namely, Greek Finance Minister Yanis Varoufakis is going to tell his eurozone counterparts that the sale plans are resumed, at a meeting today in Brussels, the US newspaper claims citing a government official.

“The Piraeus sale is on. It will proceed as planned,” the Journal quoted a senior finance-ministry official as saying.

On the other hand, Government spokesperson Gabriel Sakellaridis said that Greece was no longer discussing the privatisation of the country’s two biggest ports in Piraeus and Thessaloniki, Reuters reported Wednesday.

The Greek Finance Ministry denied on Tuesday that the sale plans have been resumed, however; the ministry said that it was “positively inclined” to the existing deal with Chinese shipping giant Cosco for the container terminal, the International New York Times informed.

The plan underlies selling of 67% stale in Piraeus Port Authority and there are five contenders already selected for the deal by the old government, including China Ocean Shipping Company (COSCO).

The privatization scheme has been agreed to be supported by international lenders: the European Union, the European Central Bank and the International Monetary Fund.

The sale is valued at approximately USD 908 million.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>


<< Jul 2019 >>
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >