Cosco coy over interest in major Piraeus-area shipyards

cosco

Chinese multinational Cosco, the concession holder of the Piraeus Port Authority (OLP), last week more-or-less confirmed interest in two major shipyards in the wider Piraeus industrial district.

Although sources from within the Shanghai-based shipping giant told Greek daily “Naftemporiki” that interest exists for the Skaramangas and Elefsina shipyards, any public move is still premature, given that no specific plan for commercially exploiting the two struggling units has been presented.

A deputy economy and development minister, which was none other than the previous head of Greece’s privatization agency, Stergios Pitsiorlas, first touched on the possible interest by Cosco for the shipyards.

Nevertheless, sources told “N” that discussed are more “advanced” for the Elefsina shipyard, officially called the Neorion Elefsis Shipyards.

The same sources clarified that the status of the two shipyards, and whatever Cosco interest in them, has no bearing on a previously announced investment plan for the Port of Piraeus. The management of the Cosco-operated port authority has unveiled a detailed plan to upgrade port facilities and ship-repair capacity at the port, including the placement of an 80,000-ton floating dock.

However, the purchase and placement of a mammoth 300,000-ton floating dock in the greater Piraeus maritime area reportedly depends on developments at the two major shipyards.

In earlier statements, Pitsiorlas said international tenders are expected to be held for both the Elesina shipyards, as well as an industrial complex on the island of Syros (Neorio).

Source: Naftemporiki / By A. Tsimplakis

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