ECONOMY

Cosco to stake claim for OLP

Details regarding the privatization of the Piraeus Port Authority (OLP) as well as the involvement of Cosco are expected to become clearer on Wednesday during a visit by the Chinese firm’s head to attend the official opening of Dock III in Piraeus, which will be run by Cosco’s Greek subsidiary SEP.

Captain Wei Jiafu, Cosco’s president and chief executive officer, is expected to express to the Greek government his company’s desire to acquire the majority stake in OLP.

With no other apparent suitors, this also appears to be the intention of state privatization fund TAIPED, whose chief, Stelios Stavridis, recently stated that the process for the sale of the controlling stake in the listed company will be accelerated, with the aim of having it completed by the end of the year.