The Chinese shipping group China Ocean Shipping (Group) Co. (COSCO) might be interested in participating in the privatization of the Piraeus Port Authority (PPA) announced by the government of Athens, one of the measures to recover useful resources to avert the failure of the greek state ( of 24 May 2011).
The intention of the shipping group was confirmed by Tasos Vamvakidis, deputy commercial director of Piraeus Container Terminal (PCT), a company wholly controlled by the group COSCO, which runs operationally the new container terminal at the port of Piraeus by the end of 2009, during the conference on "Shipping Today & Tomorrow" organized dall'Hellenic Institute for Economic Management, the Hellenic Management Association (HMA) and the British Hellenic Chamber of Commerce (BHCC), which concludes today in Athens.
Vamvakidis said that the group COSCO might be interested in buying the 23.1% of the share capital of the Piraeus Port Authority if the Government shall proceed with the privatization of the institution.
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