Greece to open offers for Piraeus Port on Tuesday

11 January 2016
303 Views

Greek authorities on Tuesday will open financial offers submitted in a tender to buy 67 pct of Piraeus Port Organization, a process characterized as the country’s biggest challenge so far in its drive to put Greece again in the map of international investment funds.

Despite the fact that Hellenic Republic Asset Development Fund has not published the number of binding offers submitted with Morgan Stanley in London, Merchant Shipping ministry sources told ANA-MPA that the only bid submitted to the Fund was by Chinese COSCO, while the other candidate, Danish Maersk, was seemed to be interest more in the Thessaloniki Port, with binding offers expected to be submitted in three months.

Hellenic Republic Asset Development Fund is expected to ask for an improved offer if COSCO was the only candidate for Piraeus Port, depending on the offer submitted by the Chinese company. Port authority officials told ANA-MPA that the market value of Piraeus Port Organization was currently around 250 million euros and noted that regardless of the price offered to buy a 67 pct of the port, the candidate investor would also undertake a large investment risk. Under the terms of the tender, any possible buyer of Piraeus Port was committed to make investments worth 340 million euros in the port, mainly to boost sea cruise services, new tanks for ship repair and new infrastructure in the ship-building zone.

You may be interested

Prespes Agreement: Government in turmoil after expulsion of Deputy Foreign Minister Quick from ANEL
POLITICS
shares22 views
POLITICS
shares22 views

Prespes Agreement: Government in turmoil after expulsion of Deputy Foreign Minister Quick from ANEL

makis - Dec 14, 2018

The Prespes Agreement with FYROM is proving to be an insurmountable obstacle for the coalition government, as Deputy Foreign Minister…

Greeks lost nearly 1/4 of their income during economic crisis, Eurostat data shows
GREECE
shares21 views
GREECE
shares21 views

Greeks lost nearly 1/4 of their income during economic crisis, Eurostat data shows

makis - Dec 14, 2018

Greeks saw nearly a quarter of their average annual income vanish as a result of the economic crisis that hit…

Folegandros: Images of an undiscovered gem
GREECE
shares739 views
GREECE
shares739 views

Folegandros: Images of an undiscovered gem

Panos - Dec 14, 2018

Shining under the Aegean sun, Folégandros was named after the son of King Minos. This off-the-beaten-path destination captivates the visitors…

Leave a Comment

Your email address will not be published.