Piraeus Port Privatization new deadline amid serious concessions by Government to local stakeholders.

Piraeus Port Privatization new deadline amid serious concessions by Government to local stakeholders.

The country's HRADF privatisation fund announced that binding offers for the tenders involving the privatization of Piraeus Port Authority would have to be submitted by December 3.
China's COSCO Group, which already controls part of the Piraeus Container Terminal, is among the main contenders in the sale of a majority stake in Piraeus Port Authority.
The government has satisfied demands of municipalities owning parts of land that was included in the concession but was not directly connected to the business activity of the Port. The law put to vote in the Parliament on Thursday is attributing the contested area to the municipalities linked with a development for the whole area. This political concession made by the government in spite of reaction of some potential investors on the possibility of the depreciation of the objet of the concession could nevertheless prove to be a precious asset in the acceptance and the realization of the investment in the future. The investment would be more socially integrated in a period and a sector where political reactions are expected putting at risk any investment.
In fact already the federation of the workers of the Port are opposing the whole project of privatization of the Port a reaction that could probably be tamed due to its radical character but still important in connection to the political origins of Trade Union forces involved.