Troika does not want monopoly in Piraeus port

 

The new regulatory framework should be implemented by April 2013, which is also the time when the issue of state aid will have to be cleared up.

 

Cosco has shown an interest in acquiring 60% of the OLP stake capital and becoming dominant in Piraeus, the biggest port in the eastern Mediterranean and the central gateway of Chinese products to Europe, the Balkans and the Middle East.

 

The Chinese are said to have made initial contact, implying that they will give 1 billion euros and will also create development projects. Reportedly, Cosco has pledged that if the OLP issue goes forth, it will build the new cruise base and resurrect the ship repair production sector, moves that will give added value to shipping-related businesses at the port of Piraeus.

 

And here comes the Troika, pushing the Greek government to sell its equity packages in OLP and THPA immediately. But when they realized that these two ports handle almost all the commercial load of Greece, they changed their minds and asked the government not to sell its shares but proceed to a concession of services.

 

Information circulating in the offices of the Miaoulis Coast speak of a refusal on the part of the Europeans to allow the creation of monopolies, such as the Chinese domination in Piraeus.

 

The final decision of the Greek government for utilizing PPA and THPA is expected in February, with a report that will be tabled at TAIPED. According to memorandum III, ports will be utilized mainly through concessions, as Shipping minister Kostis Mousouroulis has said.

 

In its latest publication, Lloyds newspaper combines OLP developments with Cosco Pacific’s announcement, which is the operator of the container terminal of OLP in the Hong Kong stock exchange, that it is about to proceed to issuing debt securities in order to fund expansion plans of terminal stations and other actions.

 

According to TAIPED information, USA, Russia, China, India, Switzerland, Italy and Turkey have also shown interest in the Greek ports.