Greece sets deadlines for port privatization

The Greek government last week announced deadlines to receive offers for the state-owned ports of Piraeus and Thessaloniki as part of its latest bailout deal with the European Union.    As part of its latest bailout deal with the European Union, Greece has agreed on deadlines for the privatization of the state-owned ports of Piraeus and Thessaloniki.
   Binding offers for tenders on the two major Greek ports must be submitted by October 2015 for Piraeus Port Authority and February 2016 for the Port of Thessaloniki, according to an announcement from the Helenic Republic Asset Development Fund.
   Piraeus Port is the largest cargo gateway in the country and COSCO Pacific has handled two of the port’s cargo piers since 2008, making the Chinese-owned terminal operator a likely candidate to tender an offer. APM Terminals, a subsidiary of Danish shipping conglomerate AP Moller Maersk, has also been vocal about its interest purchasing in both Piraeus and the northern port of Thessaloniki.
   “Yes, we are interested in the Greek ports of Piraeus and Thessaloniki and are pursuing them as part of our growth plans,” Francois Delenclos, VP of business development at APM Terminals said in July. “Our interest has been consistent throughout the economic and political cycles of the country.”
   Greek Prime Minister Alexis Tsipras initially sought to block the privatization process when he came to power in January, but has since agreed to allow it as part of economic negotiations that had stalled for months.
   Piraeus Port’s then Chief Executive Yiorgos Anomeritis had also reportedly opposed the sale of a majority stake in the port, preferring it remain in state hands. But the port announced in July that Anomeritis, who had been in his position since 2009, would be stepping down as CEO.
   In addition to the two ports, HRADF also set a deadline of December 2015 for the sale of Greece’s state railway company TrainOSE, and according to reports from Official Gazette, the German airport authority Fraport will be granted the concession for 14 regional airports in Greece.