ATHENS: The privatization of the port of Piraeus has been thrown into further doubt after a conflicting statement by the Greece’s minister.
Greece’s renewed its pledge to honor ongoing privatizations in an updated list of economic reforms aimed at unlocking bailout funds from its international lenders to avert imminent bankruptcy. The list included the sale of the state’s 67.7 percent in the port of Piraeus, which would raise at least €500 million ($540 million).
But within hours of the list being leaked, Economy Minister George Stathakis said Athens did not plan to sell its entire stake in Piraeus, but instead would seek a joint venture with investors.This contradicted Deputy Prime Minister Yannis Dragasakis who said during a visit to China last week that the sale would go ahead and would be completed within weeks.
Stathakis also said Athens would attempt to “change, revise or improve” the terms of the airport deal but would not cancel it. China’s Cosco Pacific is frontrunner to win the bidding for Piraeus as it already operates two of the port’s three container terminals under a 35-year concession signed in 2009 that has seen traffic soar ninefold to almost 3 million TEUs in 2014.
