The Greek government is reported to be privatizing the management of the first wharf of Piraeus Port, a transport hub of the Mediterranean Sea. According to local reports, China Ocean Shipping Co. (COSCO) is vying for the bid.
Greece’s government has been offering management rights to the port since 2006. With 4 billion euros for operating concessions, COSCO acquired management rights of the second and third wharfs in 2008.
As Greece continued to suffer from the debt crisis, the government planned to sell the management rights of the first wharf, with the possibility of a public bidding process.
“Not only are we interested, but the Greek government also has the willingness,” said Fu Chengqiu, general manager of Cosco Piraeus Container Terminal Co. (PCT).
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Source: Morning Whistle