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Hutchison, Cosco bidding for Greece terminal

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May 9, 2008

ATHENS, Greece—Hutchison Whampoa Ltd. and Cosco Pacific Ltd. have submitted bids for Greece's main container terminal, Merchant Marine Minister George Voulgarakis said Friday.

The two firms -- based in Hong Kong and China -- are vying for management of container operations at the port of Piraeus, near Athens.

"This marks the beginning of a new era for the country's port industry ... I express my satisfaction at this positive development," Voulgarakis said.

Greece's conservative government is also planning to privatize container operations at Thessaloniki, northern Greece.

Both plans are fiercely opposed by dockworkers' unions, which have held protests to try and force the government to abandon the venture.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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