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Piraeus to go for rent, 50m euros

Piraeus to go for rent, 50m euros
Piraeus Port Authority, Greece's biggest port, wants the winning bidder for its container terminals to make a one-time 50 million euros payment and pay performance-based rent over the contract period.

Piraeus to go for rent, 50m euros

Piraeus Port Authority, Greece's biggest port, wants the winning bidder for its container terminals to make a one-time 50 million euros (S$104.2 million) payment and pay performance-based rent over the contract period.

The contract will require a minimum annual rent, Greek Merchant Marine Minister George Voulgarakis told lawmakers last Friday, according to a transcript of his speech on the Parliament's website. Piraeus and the contractor will also split annual profits if the operator's return-on-assets ratio exceeds 15 per cent, according to the minister.

Greece's government is seeking private operators for container terminals at Piraeus and Thessaloniki, the country's two biggest ports, to improve cargo handling capacity. State controlled Piraeus port invited bids to run Piers II and III for 30 years.

www.TurkishMaritime.Com.tr

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