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OLTH to detail tenders in weeks

OLTH to detail tenders in weeks
Greece's Thessaloniki Port Authority (OLTH) won't announce details of offers made by bidders to run and upgrade its cargo facilities for at least two weeks, an evaluation committee official said on Friday.

Greek Thessaloniki Port to detail tenders in weeks

Greece's Thessaloniki Port Authority (OLTH) won't announce details of offers made by bidders to run and upgrade its cargo facilities for at least two weeks, an evaluation committee official said on Friday.

Greece, with two of the largest ports in the Mediterranean, launched a tender to sell and modernise outdated port facilities at the northern city of Thessaloniki and at Piraeus Port near Athens, aiming to turn them into regional hubs. "We estimate it will take at least two weeks for the committee to complete the evaluation, due to the volume of the documentation and the objections that have been raised," said an evaluation committee official who declined to be named.

After the evaluation is complete, Thessaloniki port's board of directors will announce the size of the bids, the official said.

China's Cosco Pacific, Hutchison Port Holdings joined by pharmaceutical group Alapis and Dubai Port World together with Piraeus Bank have submitted bids to run OLTH's cargo facilities.

Earlier this week Piraeus Port said Cosco Pacific made the top bid to run and upgrade facilities at Greece's largest port.

OLTH has a market value of 354 million euros ($552.5 million) according to Reuters data. Its shares were 0.7 percent up at 35.36 euros in early trade in Athens.

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