PPA Signs New Collective Labor Agreement

Piraeus Port Authority (PPA) has signed a new Collective Labor Agreement with the employees’ representatives of PPA personnel.

The deal was signed in accordance with the provisions of Law 1876/1990 and after long negotiations with Labor Unions and PPA Management.

PPA informed that the new agreement has a validity period of two years.

“The new collective labor agreement in conjunction with the new General Staff Regulations ensure the remuneration and working conditions for all employees, contributing positively to the transition of PPA to a new era of growth and prosperity,” Captain Fu Chengqiu, CEO of PPA SA, said.

In June 2017, PPA entered into a Memorandum of Understanding (MOU) with Shanghai International Port Group to develop synergies that will improve trade and create new business opportunities.

Under the deal, the parties plan to cooperate on project studies, staff training, information exchange, and technical assistance.

In August 2016, port operator Cosco Group (Hong Kong) Limited officially acquired a 51 percent stake in the Greek Piraeus Port Authority for EUR 280.5 million. The company has an option to acquire the remaining share of 16 percent in the port over a period of five years for EUR 88 million.

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