“The investment of Cosco Shipping Group in the port of Piraeus is of key importance for the city, the local community, the national economy, but also the geostrategic position of our country in the wider region”, said the Minister of Shipping and Island Policy Giannis Plakiotakisthis morning , in a special event for the exchange of documents for the transfer of 16% of the PPA shares to Cosco, which took place in the presence of the Minister of Development, Adonis Georgiadis.
Mr. Plakiotakis stressed that the capacity and dynamics of the port have been significantly strengthened and will be strengthened even more, with the completion of the ongoing investment program.
He added that the amendment of the concession agreement and the transfer of the additional 16% of the share capital of PPA SA to Cosco Shipping ensures the acceleration and development of the investment, while ensuring the interests of the Greek State, but also the very important benefit for the local community. and the national economy.
He spoke of a sincere negotiation based on the constructive cooperation of both sides, emphasizing that this cooperation will continue, in order to yield multiple positive results.
He also pointed out that the Greek side expects the acceleration of the implementation of the investment plan in the port of Piraeus and its expansion in the coming years.
The Minister of Shipping stressed that the government has managed, in just 2 years, to upgrade the investment status of Greece and this finds a response in the markets.
“The credibility of our country has been restored. “Investors now know and recognize that Greece treats them fairly and responsibly,” he stressed.
It is noted that the stock transfer of 16% of the PPA shares in Cosco Shipping was recently completed by the HRADF.
The completion of the transaction followed the amendment of the Concession Agreement between the State and the PPA and its ratification by Parliament.
Respectively, the HRADF and Cosco Shipping signed the amended Share Purchase Agreement (SAM) and the Shareholder Agreement (SH).
For 16% of the PPA shares, Cosco paid to the HRDH the price of 88 million euros, plus accrued interest of 11.87 million euros, as well as a letter of guarantee of 29 million euros.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Eurostat: Women and Youth Most Underpaid in Greece
In the EU 18.2% of women are low-paid compared to men, against 23% in Greece. A staggering 43% of young Greeks are low-paid—the second-worst rate in Europe.
Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.
Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”
Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.
Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.
Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.
Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.
WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year
IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock
First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region
![Accor: Η βιωσιμότητα «κλειδί» για την ανάπτυξη και ανθεκτικότητα του ελληνικού τουρισμού [έρευνα]](https://www.ot.gr/wp-content/uploads/2025/04/thumbnail-90x90.jpg)
![Οι αλλαγές που υπάρχουν στα φορολογικά έντυπα για τα εισοδήματα του φορολογικού έτους 2024 από ακίνητα [Γ’ Μέρος]](https://www.ot.gr/wp-content/uploads/2025/03/akinita-600x400.jpeg)
