COSCO in Talks to Bid for Athens Freight Terminal

Chinese shipping conglomerate COSCO is in advanced talks with Greek real estate developer Grivalia and logistics provider PAEGAE, about jointly bidding to build and operate a rail freight terminal near Athens, a Greek newspaper reported.

 

Greece has launched a tender for the 250 million euro ($283 mln) project to build the terminal at Thriasio near Athens, which would have access to the country's railway network and its biggest port at Piraeus.

 

COSCO's shipping unit China COSCO Shipping last week signed a deal to buy a 67 percent stake in Piraeus Port , a move which fits with the group's plan to build a European transhipment hub.

 

PAEGAE is owned by National Bank, Greece's second-biggest lender.

 

Greek newspaper Kathimerini said on Wednesday that officials from PAEGAE, COSCO and Grivalia had met in recent weeks to discuss the issue.

 

"There is nothing to be announced," a senior official at National Bank told Reuters on condition of anonymity when asked about the report.

 

Grivalia was not immediately available for comment.

 

A Greek government official has told Reuters that COSCO was among investors that were expected to make an offer for Thriasio. Binding bids for the project are due by May 31.