New deal for Piraeus Port ahead of privatisation to include rent raise

September 25, 2015
Written by E.Tsiliopoulos

A new contract between the Piraeus Port and the Greek state will include an increase in the annual cost of the lease, from 2 pct of total annual revenue at present to 3.5 pct of annual revenue, media sources said on Thursday.

The concession will also govern terms of land use, buildings and infrastructure at the port and set steady rates for coastal shipping (ferries) for a specified period of time.

The higher "rent" will be handed over to the municipalities adjacent to the port and affected by its activities.

The new agreement is being drawn up ahead of the port's privatisation via a concession agreement to private investors and is expected to be concluded over the next few days.

Shipping and Island Policy Minister Thodoris Dritsas has asked that a public port authority retain all the administrative and regulatory powers of the current Piraeus Port Organisation. Before the Piraeus Port Organisation is acquired by a new investor, it will only be able to conduct commercial activity, like the Piraeus Container Terminal run by COSCO does at present.

State authorities must also define which areas in the port's land zones belong to the port and which to the respective municipalities.

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