BUSINESS

Council of State approves contract for cruise terminal expansion, Cosco

TAGS: Justice, Business

The plenary of the Council of State has approved a contract for the expansion of a passenger terminal in Piraeus for the docking of cruise liners as well as the sale of a 67 percent stake of Piraeus Port Authority (OLP) to Cosco.

The country’s top constitutional court has ruled in favor of those contracts, rejecting the appeals by construction company Terna SA.

The plenary has therefore overturned the decision of the Suspensions Committee of the CoS, vindicating the policy followed with those contracts as it ruled that OLP is not bound by EU regulations on tenders.

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