A group including Hutchison Port Holdings (HPH), Hong Kong, and Greek pharmaceuticals group Alapis, has made the highest bid to run and upgrade cargo facilities at the Greek port of Thessaliniki.
The Government plans to turn the outdated port facilities into a new modernised facility, with the aim of becoming a regional hub while boosting cargo business. HPH offered US$4.85 billion over the 30-year duration of the project and is guaranteeing 70 percent of the offer prices, even if revenues from the port fall short of expectations. HPH also plans to invest US$766.85 in upgrading the port’s facilities. Meanwhile, COSCO Pacific has won the tender to run Piraeus Port. COSCO Pacific offered US$1.38 billion with a 70 percent guarantee and said it would invest US$519.8 million in upgrades.
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