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Athens News Agency: News in English, 08-06-03

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] 4.3 bln. for Piraeus container port
  • [02] FM: Democratic deficit in FYROM

  • [01] 4.3 bln. for Piraeus container port

    Bidding companies have offered up to 4.305 billion euros for a concession to take over management of the Piraeus Port container terminal. This was announced on Tuesday by Merchant Marine, Aegean and Island Policy Minister George Voulgarakis, after briefing Prime Minister Costas Karamanlis and the inner cabinet on the results of the tender.

    Voulgarakis said that the bids had been opened and that the price offered was seven times greater than the current value of the Piraeus Port Authority on the stock exchange, while in terms of annual yield it was 17 times greater than the PPA's annual profits.

    The minister added that the process for selecting an "interim concession holder" will be completed over the next days, and the tender for the Thessaloniki container terminal will begin next month.

    He also stressed that the results of the tender had vindicated the government's policy and that an important step toward making Greece a strategic hub for southeastern Europe had been taken.

    Questioned on soaring ferry fares for the Greek islands, the minister said that the ministry's appeal to ship owners and a public debate had yielded results since important ferry lines had announced that they would not go ahead with planned fare increases but freeze prices instead.

    According to an announcement issued later on Tuesday by the PPA, the two sealed bids submitted for a 35-year concession of Piers II & III of the Piraeus port container terminal were opened on Tuesday in the presence of representatives of the two candidate-companies.

    The total sums offered, including down-payments and rents were: 4.305 billion euros by Cosco Pacific Ltd, with 79 percent of the sum guaranteed in addition to investments of 620 million euros; 4.063 billion euros by the consortium Hutchinson Port Holdings Ltd, Hutchinson Ports Investments S.A.R.L., Alapis Group and Lyd S.A., of which 75 percent was guaranteed in addition to investments of 354 million euros.

    The announcement said that the Tender Commission would now convene to examine the bids more closely and would submit its conclusions to the PPA's board, which would then make a decision on proclaiming an "interim concession holder". The process would be completed within the original time frame for the tender and in accordance to statements made by Voulgarakis, within the current month, the PPA announcement added.

    Caption: ANA-MPA/EPA Undated file photograph of the container ship 'Hamburg Express'.

    [02] FM: Democratic deficit in FYROM

    Greece's position vis-a-vis the violence-marred election on Sunday in the Former Yugoslav Republic of Macedonia (FYROM) was again reiterated on Tuesday, this time by Foreign Minister Dora Bakoyannis, who spoke on the sidelines of a Women Leaders Working Group conference in an Athens seaside resort.

    "... Greece is observing, with great concern, the democratic deficit recorded during the election in FYROM. We will await the election process to conclude, before carefully examining all of the reports by election observer. We sincerely regret the way this election was conducted. We will await final results and then state our position," Bakoyannis emphasised.

    Caption: ANA-MPA file photo of Greek FM Dora Bakoyannis.

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