ATHENS: As the pressure from the European Commission has gone worse, Greece is bound to reverse its decision to cancel the privatization of the ports of Piraeus and Thessaloniki.
The new left-wing government had publically thrown out plans to privatize both ports just weeks before, leaving tenders that had been submitted under the previous ruling party in limbo.
Putting the privatizations back on that table is part of a list of pledged reforms made in return for a four-month loan extension from Greece’s international creditors – the European Central Bank, the European Union and the International Monetary Fund.
Up for grabs is two-thirds of the Port of Piraeus Authority, responsible for the country’s top container port. Cosco Pacific had previously been shortlisted and is still seen as a clear favorite to win the contract given its strong existing presence in the port through its operation of two piers at its wholly-owned Piraeus Container Terminal.
