Dubai Ports World has submitted the highest bid for the 35-year deal to run Greece's Thessaloniki Port Authority's Pier 6 OLTH. "Dubai has bid more than the others by a long shot," a source claimed.
DPW has bid for OLTH through Peninsular & Oriental Steam Navigation Company (P&O), which DP World controls. Also in the bid consortium are Greek construction player Aktor and Piraeus Bank.
The sell-side source claimed Dubai has beat out China's Cosco for OLTH. Cosco bid with Hutchinson in a consortium with Greece's chemicals and pharmaceutical player Alapis. Cosco is China's biggest shipping player and has interests in 20 container terminals in China, Hong Kong and overseas, including the Cosco-PSA Terminal in Singapore, Antwerp Gateway Terminal in Belgium and the Suez Canal Container Terminal in Egypt. Bids for OLTH were received on May 15 by the evaluation committee.
Another executive confirmed the information from the source saying, "Yes, it's true, Dubai has bid the most and is expected to be announced as the winner," said an executive.
A spokesperson for OLTH could not comment on bidders and it is not clear how much DP World offered. The top bidder for OLTH will be announced in about 15 days, near the end of this month, the source noted.
The Government of Greece as well as local experts believe that giving over the port operations to a foreign giant can create conditions for Thessaloniki to develop into a solid, regional in-transit port and will have a positive impact on commerce, the local economy and the community. OLTH has a market capitalisation of some €340 million (Dh1.9 billion).
Jamal Majid bin Thaniah, executive vice-chairman of DP World and Group CEO of Port and Free Zone World had recently said that DP World would keep its eyes open to any investment opportunities available in any part of the world. "Our sight is set to any opportunities that arise in any part of the world. We would go ahead to make acquisitions and joint ventures". –Emirates Business 24/7
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