Greek Prime Minister Alexis Tsipras and the chairman of the state controlled China Ocean Shipping Company (Cosco) Xu Lirong, penned a deal on Friday (8.4) for the sale of a majority stake of the Piraeus Port Authority (OLP) to Cosco. The signing ceremony took place at Maximos Mansion in the presence of the Greek PM, Xu Lirong, and the head of Greece's privatization agency (HRADF), Stergios Pitsiorlas.

signing

According to the agreement, the Chinese company will acquire 51% for €280.5m and 16% for €88m after five years, once it has fulfilled various commitments, among which an investment of more than €500m in new facilities at Piraeus and the payment of an annual fee to the Greek state under its existing concession to run the port dating from 2009. The company has already invested over €200m towards the construction of an additional pier to handle large container vessels and install new cranes. The concession deal will last until 2052.

Speaking after the completion of the signing ceremony, the Greek Prime Minister noted that the amended agreement provides a very important opportunity for a new perspective of growth in the long relations between Greece and China, underlined the timing of the signature of the agreement “at a crucial time for Greece, at the end of a very difficult era and at the start of a new more optimistic one”, and highlighted the value of “investment activities- especially those that  can attract other important investments”. With regard to the agreement, he stressed that it sends a clear message for attracting new investments, noting also that through this partnership Greece aspires to become “a bridge between East and West” and “provide opportunities for speed and efficiency in the transport of goods from China to the Mediterranean and Central Europe”. Prime Minister Tsipras also announced that he will visit Beijing in June following an official invitation by his Chinese counterpart Li Keqiang.   

anamnistiki

On their part, the head of Greece's privatization agency (HRADF) Stergios Pitsiorlas and Cosco’s Xu Lirong noted the importance of the deal saying it is a big step in the strategic cooperation between the port and the Chinese shipping giant. Xu Lirong also said Cosco is committed to a harmonious and mutually beneficial development of the port of Piraeus, reaffirming that the company is dedicated to long-term growth in Greece.

More from Greek News Agenda: Piraeus Among World Leading Ports

Read also: IOBE launches study on the economic impact of the Piraeus Port Authority sale

 

“4.1 miles”: A documentary on refugee crisis ...
“4.1 miles” a student film by Daphne Matziaraki on the refugee crisis has been voted on ...
Read more
Greece in the World: 6 foreign language websites
Starting from October 2015 the Secretariat General for Information & Communication ...
Read more
Greece’s move towards universal health coverage
Fundamental vision of the reform efforts made by the Greek Ministry of Health, is the universal ...
Read more
Reading Greece: Michaela Prinzinger on ...
Michaela Prinzinger was born in 1963 in Vienna, Austria. She studied Byzantine and Modern Greek ...
Read more
Reading Greece: The Vision of Filippos Tsimpoglou ...
The National Library of Greece, under the direction of Dr. Filippos Tsimpoglou, General Director, ...
Read more
Reading Greece: Vassilis Lambropoulos on New ...
Vassilis Lambropoulos has been C. P. Cavafy Professor of Modern Greek and Director of the Modern ...
Read more
Restoring labour rights: a pilot project to ...
In a statement to Athens News Agency for May Day, Labour Minister Effie ...
Read more
Rethinking Greece: Ares Kalandides on rebuilding ...
Ares Kalandides is a Berlin-based urban planner and consultant in place branding. He is the founder ...
Read more
Rethinking Greece: Johanna Hanink on Ancients, ...
Johanna Hanink is Associate Professor of Classics at Brown University, US. Her work focuses on ...
Read more
Study in Greece: International Master's ...
Did you know that Greece offers many studying opportunities at Master’s degree level ...
Read more

rethinking greece f1

quo Vadis banner

reading greece final

filming greece banner 234768

Greek News Agenda
#IthacaLaundry is a mobile laundry service for the #homeless & #refugees in Athens. Founded & run by a group of you… https://t.co/Dk33x7GiqH
Follow Greek News Agenda on Twitter

banner newsletter 5