CHINA's Cosco Group and four other suitors have been shortlisted as potential buyers of a majority stake in Piraeus Port Authority as Greece aims to raise EUR1.5 billion (US$2.03 billion) while selling its stake in Thessaloniki Port Authority OLTH.
The stimulus package also involves privatising railway operator Trainose, rolling stock company Rosco and some regional airports among other assets, according to Greek privatisation agency HRADF.
Cosco's bidding rivals are Ports America, Maersk port operator, APM Terminals, Manila's International Container Terminal Services and investment company Utilico Emerging Markets Limited, reported Reuters.
Despite a six-year recession, Piraeus port profits rose 12 per cent last year and the port is seen to be benefiting from a robust tourist season this year when Greece expects a record 19 million tourists.
Binding offers for Piraeus are expected by the end of the year.
There have also been non-binding bids from Russian Railways (RZD) and another seven suitors for a majority stake in Thessaloniki. Russian Railways is bidding in a joint venture with Greek construction group GEK Terna.
Source : HKSG.