EIB to bankroll Greek port upgrades

The European Investment Bank is holding talks with Hutchison and Cosco in respect of funding their investments respectively in the ports of Salonika and Piraeus.

The Bank has already agreed a loan of €100 million with the Port Authority to extend the sixth pier at Salonika, although this is now not expected to proceed following a revamp of the plan by Hutchison.

In the meantime, Piraeus Port authority and Cosco Pacific have signed a €4.3bn contract granting the shipping line a 35-year concession to operate the port.

Source: http://www.portstrategy.com