COSCO Pacific Ltd., a container-related subsidiary of China Ocean Shipping (Group) Company (COSCO), has won the operation of two container terminals of Piraeus Port of Greece.
COSCO Pacific beat its competitor, a consortium formed by Hutchison Whampoa Limited , HPI, Sarl, Alapis, AEBE and AID S.A., by offering higher prices, EUR 4.3 billion (including rent) for operating the first-phase and third-phase terminals for 35 years. The payment will be paid in stages according to the contract. It will also spend EUR 620 million upgrading equipment of the two terminals.
The consortium offered EUR 4.06 billion for the right to operating the terminals and said it would invest EUR 354 million in upgrading the equipment.
COSCO Pacific also participated in the competition for operation of the container terminals of Thessaloniki Port, the second largest harbor in Greece. Its rivals include Hutchison Whampoa and Dubai Ports World. The appraisal will be completed in July.
COSCO Pacific beat its competitor, a consortium formed by Hutchison Whampoa Limited , HPI, Sarl, Alapis, AEBE and AID S.A., by offering higher prices, EUR 4.3 billion (including rent) for operating the first-phase and third-phase terminals for 35 years. The payment will be paid in stages according to the contract. It will also spend EUR 620 million upgrading equipment of the two terminals.
The consortium offered EUR 4.06 billion for the right to operating the terminals and said it would invest EUR 354 million in upgrading the equipment.
COSCO Pacific also participated in the competition for operation of the container terminals of Thessaloniki Port, the second largest harbor in Greece. Its rivals include Hutchison Whampoa and Dubai Ports World. The appraisal will be completed in July.