Greek lawmakers approve Piraeus port sale

Greek lawmakers approve Piraeus port sale
by Staff Writers
Athens (AFP) July 1, 2016

Greece's parliament on Friday approved the sale of a majority stake in the Port of Piraeus to China's COSCO, just before a visit to Beijing by Prime Minister Alexis Tsipras.

In January, Greece's privatisation agency said it had accepted a 368.5 million-euro ($402.4 million) bid by COSCO for 67 percent of the Piraeus port.

The China Ocean Shipping Company was the only bidder for the majority stake in the port, Greece's largest and one of the busiest in Europe.

Out of 248 deputies present, 223 voted in favour of the sale, which will give COSCO rights to run Piraeus until 2052.

The approval follows some last-minute wrangling over terms, with COSCO blocking late Greek demands for jobs guarantees, media said.

Tsipras left Athens on Friday for a six-day trip to China.

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