Piraeus Port Authority
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.
Relations between the government and the operator of Piraeus Port Authority (OLP) could reach breaking point just weeks before the general election as an informal meeting between OLP and members of the Port Planning and Development Commission last Friday not only failed to resolve the problems for the implementation of Cosco's investment but probably generated new ones too.
The closing auctions determined the hue of the indexes at the Greek stock market on Thursday, securing some gains for the benchmark, blue chips and banks, while the mid-cap index closed without a change. There was notable growth in early trade, but those gains evaporated later on before the auctions pushed the majority of stocks back into positive territory.