COSCO the only bidder to submit an offer in Piraeus Port Authority tender

22 December 2015
206 Views

According to confirmed information made available to the electronic edition of To Vima, Chinese firm COSCO is the only company to submit a binding offer for purchasing 51% shares of the Piraeus Port Authority (with an option to buy up to 67%).

The other two rumored potential investors – APM Terminals from Denmark and ICTS from the Philippines – did not submit an offer, despite having been approved to progress to the next phase of the tender by state privatization fund TAIPED.

TAIPED issued a statement explaining that the offer will be revealed on the 12th of January 2016. AT the same time, the estimations of the two appointed evaluators will also be made public.

At present COSCO is managing piers II and III at the port of Piraeus. The company that wins the tender will commit to investing 350 million euros into development projects in the port.

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