View Issue #585 Now!
China’s Cosco eyeing bid for Greece’s largest port
Chinese shipping group Cosco is considering investing one billion euros in Greece’s largest port at Piraeus (OLP), which is on the government’s privatizations agenda, financial daily Imerisia said.“The Chinese group would be interested in acquiring a 60 percent stake in OLP,” the paper said without citing sources.
It said Cosco is planning to make the investment proposal after Athens decides what procedures it will follow on the privatization of its two largest ports—Piraeus and Thessaloniki Port.
After securing the unlocking of bailout funding from its international lenders, Athens is turning its focus on investments to jump start the country’s slumping economy, which is in its sixth straight year of recession.
Cosco has already made a major investment in Piraeus port, which is 74 percent state-owned.
“We are not aware of such information,” an OLP official who declined to be named told Reuters.
Officials at Greek privatization agency TAIPED were not available for comment.
In 2011 more than 20 million passengers and 1.7 million containers passed through Piraeus, the country’s busiest port and a gateway to Eastern Europe, according to the Piraeus Port Authority (OLP). (Reuters)
American Journal of Transportation
116 Court Street, Suite 5
Plymouth, MA 02360
© Copyright 1999–2014 American Journal of Transportation.All Rights Reserved.