New Greek authorities halt sale of Pireus and Thessaloniki ports

New government in Athens will halt privatization of the biggest Greek port, Pireus, where Chinese group, COSCO, has already delivered the offer.

- We will halt privatization of the Pireus and Thessaloniki port – new deputy of the minister for nautical affairs, Teodoros Dricas said to France-Presse.

Previous conservative government was planning to sell 67% stake at Pireus and deadline to submit offers for the stake acquisition expires in March. Chinese COSCO already has 35-year concession for expansion of two biggest container terminals at Pireus port.

- Newly set up government will also halt privatization of Greek electric power plant DEH – new minister of energy, Panaiotis Lafazanis, said for one Greek television station.

Previous government last year adopted the law on sale of 30% DEH to private groups trying to liberalize its energy market.

The Ministry of China said it is “very concerned” for this information.

- We are planning to call Greece to protect legal rights and interests of Chinese companies in Greece, including COSCO – Shen said.