(MENAFN) With the USD402 million offered by China-based Cosco Group, Greece has gotten a better bid for its biggest port, according to the latest reports.
Additionally, privatizations have been a key element in Greece's bailouts since 2010 but have secured only USD3.8 billion because of political resistance.
Greece recently halted the sale of a majority stake in Piraeus Port, but the process resumed under the terms of a 3rd bailout for Greece of up to USD94 billion in Aug.
Cosco has been operating one of the port's container terminals since 2009 and is investing a whopping USD250.1 million to construct a second terminal at the port.
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