Greece to Push Back Port Piraeus Sale

Early parliamentary elections held in Greece in September are expected to postpone the sale of a majority stake in the country’s biggest seaport by several weeks, Reuters reports.

Greece will put off the sale of the port of Piraeus as the country’s ministries were overwhelmed by activities in relation to the elections which saw Alexis Tsipras and Syriza return to power in a coalition with the right-wing Independent Greeks Party (ANEL) .

Back in August, Greece signed a memorandum of understanding (MOU) with its international lenders, agreeing to announce the binding bid dates for the ports of Piraeus and Thessaloniki by October.

The MOU is a prerequisite for Greece if it wants to gain access to around EUR 85 billion offered through a new bailout program.

Two months prior to the signing of the MOU, Greece invited China’s Cosco Group, Maersk Group’s APM Terminals, and Philippines-based International Container Terminal Services (ICTSI) to present their bids for a 51% stake in the Piraeus port.

The companies were to present their bids by September, with an option for the stake to increase up to 67% if the chosen company invests EUR 300 million in the port over a period of five years.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 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 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >