Cosco bid for Greek port highest

6/5/2008 10:44:18 AM

China's Cosco Pacific has offered the highest bid in the tender for the concession to manage two of Greece’s three container wharfs at Piraeus Port. Cosco's offer totalled US$7.61 billion compared with a Hutchison Whampoa consortium’s offer of $6.82 billion, for the 35-year concession. Cosco pledged to invest $957.68 million in the project while the Hutchison consortium, which includes Greece's Alapis, offered $546.8 million. The government plans to privatise the container management operations at the Piraeus Port Authority and the Thessaloniki Port Authority. Hutchison Whampoa and Cosco Pacific are also bidding to manage container handling operations in Thessaloniki, Greece's second largest port. Another bidder for the same tender is Dubai Ports World. CargonewsAsia

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