Pi­raeus port sale to be de­layed a few weeks

Kathimerini English - - Front Page -

Greece will put off by a few weeks the sale of a ma­jor­ity stake in its largest port, Pi­raeus, af­ter a Septem­ber 20 snap na­tional elec­tion held up work at min­istries, gov­ern­ment of­fi­cials said yesterday. Set­ting a date to sub­mit bind­ing bids for Pi­raeus port is one of the ac­tions that Athens needs to com­plete to con­clude its first bailout re­view and qual­ify for more funds from its 86-bil­lion-euro bailout. China’s Cosco Group, Dutch con­tainer ter­mi­nal op­er­a­tor APM Ter­mi­nals and Philip­pines­based In­ter­na­tional Con­tainer Ter­mi­nal Ser­vices cur­rently have un­til Oc­to­ber 30 to sub­mit bind­ing bids for a 51 per­cent stake in Pi­raeus Port Au­thor­ity (OLP), the port op­er­a­tor. But the early elec­tion has held up work and the dead­line may be pushed back, gov­ern­ment of­fi­cials said. “We will fall be­hind by about 20 days be­cause the con­ces­sion agree­ment that the Ship­ping and Fi­nance min­istries have to sign is caus­ing a short de­lay,” a gov­ern­ment of­fi­cial close to the mat­ter told Reuters on con­di­tion of anonymity. The Ship­ping Min­istry still needs to re­view the draft agree­ment be­fore it is pre­sented to in­vestors, another of­fi­cial said, adding that the re-elected min­is­ter had re­ceived the rel­e­vant ma­te­rial only “very re­cently.”


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