Early 2014 saw the Greek coalition government at the time invite investors to submit an expression of interest for the acquisition of a majority stake (67%) in the share capital of PPA. But, plans to privatise the port were put on hold earlier this year by the country’s new left-wing government.
It seems the cash-strapped country has had to push forward with the sale of such public assets to pay European creditors.
Hans-Ole Madsen, senior vice president, ICTSI, confirmed to Port Strategy: “It is correct that ICTSI has qualified for the last stage of the Piraeus tender process.”
Chinese state-run shipping company COSCO, which already has a 35-year concession to expand the two main container terminals at Piraeus, and Dutch company AMP Terminals have also bid for the stake.
Piraeus Port is one of the largest and busiest ports in Greece and in the Mediterranean Sea, handling containers, cargo and passengers.
Philippines-based ICTSI operates a number of terminals around the world and continues to invest in opportunities including its latest venture in Congo and its expansion in Laguna.