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Piraeus City To Receive Countervailing Benefit From Port

Piraeus city to receive countervailing benefit from port

Piraeus City To Receive Countervailing Benefit From Port

Piraeus, Greece (PortSEurope) June 17, 2018 – The municipality of Piraeus is set to receive €1.977 million in the form of countervailing benefits from port and commercial activity by Piraeus Port Authority  SA (PPA).

PPA is operated by China’s COSCO Shipping Ports Limited.

The payment relates to 2017, the first full year in which the Chinese company managed Greece’s largest port.

It marks the first time that the municipality receives such a benefit, a result of the PPA’s memorandum-mandated privatization.

Source: Naftemporiki

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