ICTSI and DP World in the mix for Thessaloniki

ICTSI and DP World in the mix for Thessaloniki

Greek authorities are willing to sell off a greater chunk of the nation’s second largest port than originally planned. The privatisation of Thessaloniki Port Authority originally called for the sale of a 51% stake in the port, with another 16% to be sold at a later date. Now the tender sent out to interested parties shows that 67% of the port is up for sale.

The tender also stipulates that the winning party must invest EUR180m ($188m) in the port over a seven-year period. The likely winner of the tender will be announced next month. Among those thought to have lodged bids for the port are ICTSI from the Philippines and DP World from the UAE.

The privatisation of Thessaloniki follows shortly after Chinese maritime conglomerate China Cosco Shipping took control of Greece’s top port, Piraeus. The controversial privatisation of the top two ports, part of the government’s bid to balance its books, has sparked many strikes among dockworkers.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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