https://www.rt.com/business/338949-greece-china-port-sale/
Athens has signed a €368.5 million deal to sell the operator of
Piraeus port to the Chinese shipping group COSCO, Reuters reported. This
is the second major privatization for the country since last year.
Under
the deal, COSCO will acquire 51 percent of the listed Piraeus Port
Authority for €280.5 million and the remaining 16 percent for €88
million after five years, once it concludes mandatory investments. The
company will invest €350 million over the next decade, and will pay an
annual fee to the Greek state for running the port.
The Chinese state-owned company was the sole bidder for the port.
COSCO already operates the container terminal in Piraeus under a 35-year
concession it acquired in 2009. It is investing €230 million to build a
second container terminal at the port which it plans to turn into a
logistics hub for Chinese exports to Europe.
...
Piraeus
port workers, however, say they are worried the deal would put their
jobs at risk. Dockworkers marched in central Athens on Friday to protest
the sale... The sale of Piraeus is part of Greek creditors' demands to
secure a third €86 billion bailout package. It goes against Prime
Minister Alexis Tsipras' pre-election promise not to privatize the
country's infrastructure.
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