WSJ expects Piraeus port privatisation to boost Greece’s economy

coscoIn an article published in The Wall Street Journal after the submission of binding offers for the Piraeus Port Authority, correspondent in Greece Costas Paris argues that this privatisation ‘is expected to generate hundreds of millions of euros for cash-strapped Athens’. As he writes: ‘Cosco is considered the favorite to win the bid as it already operates two container terminals under a 35-year concession it acquired in 2009.’ The sale of Piraeus Port Authority could yield about €700 million including the €300 million investment the winner must put into Piraeus over the next five years. Piraeus Port Authority’s market capitalisation is €357 million.

You can read here the article published in WSJ.