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Greece in advanced talks with China's Cosco on Piraeus port
May 15, 2015 / 7:21 AM / 3 years ago

Greece in advanced talks with China's Cosco on Piraeus port

ATHENS (Reuters) - Greece is in advanced discussions with China’s Cosco (1199.HK) to boost their cooperation in the country’s biggest port Piraeus (OLPr.AT), the Greek defence minister said on Friday.

Greek Defence Minister Panos Kammenos delivers a speech as he attends the 4th Moscow Conference on International Security (MCIS) in Moscow April 16, 2015. REUTERS/Sergei Karpukhin

Cosco, which currently manages two container piers at Piraeus Port, is also interested in acquiring a majority stake. Athens has put the port up for sale.

“We are in very advanced talks to expand this cooperation very soon in relation with the inclusion of a railway network as well,” Defence Minister Panos Kammenos told an economic conference in Athens.

Kammenos is the leader of the junior partner in the country’s leftist-led government.

Greece unblocked the sale of a 51 percent stake in Piraeus port and has invited Cosco and two other shortlisted investors to submit binding bids by September.

Reporting by Angeliki Koutantou; Editing by Dominic Evans

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