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Cosco has already disbursed 80 million euros on a escrow blocked account, in accordance with the previous PLO, privatized after PPA and sold directly to 67%, which would propose to pay, like the investor. ThPA – guarantee letter for 20% of the remaining mandatory investments, excluding the cruise ferry concerned by the issuance of the aforementioned pbadenger station. In other words, he will ask to pay only 20% of 105 million (225 minus 120 of his cruise) or 21 million.
The investment program of 580 million euros in the Cosco PPA is headed for a dead end, the Greek state not wishing to approve the master plan of the APP as it was after yesterday's debate on the ESA Ports Design and Development Committee).
In particular, ISAF is expected to announce today its decision on the investment plan and estimates that, according to informed sources, only the investments foreseen in the concession contract amount to 225 million (293 million minus 68 million ). already spent) while the remaining 354 million additional investments will be subject to compliance with specific conditions. It should be noted that the mandatory obligations have already been approved with the concession agreement voted by Parliament in 2016, while the second, concerning hotels, shopping centers, motor stations, shipyards and new ones. logistic warehouses, are those that arouse the biggest reactions of the companies. factors, as well as larger and smaller private interests.
Cosco stated in the clearest way, sources of the APP report, that the master plan is unified and can not be partially implemented. For example, they mention the issue of the new cruise pbadenger terminal, which will also house the new 22,000 square meter shopping center, without which funding provided by community funds through the region could not to be paid. million dollars for the construction of the expansion of the cruise port, which is however among the mandatory investments.
Thus, once this information is validated for partial approval and under "virtually prohibition of investment", Cosco will refer to the arbitration provided for in the concession contract.
Cosco, referring to the fact that he is not allowed to carry out de facto mandatory investments because he has already spent two and a half years since the concession of 51% and that most licenses are still in suspense, will require an additional 16% of capital The capital of PPA, which remains under the control of the State and had to be paid to Cosco after the implementation of binding investments in 2021. To this end, Cosco has already paid 80% Referring to the previous ThPA that had been privatized after the APP and sold directly to 67%, it will propose to pay, like the ThPA investor, a letter of guarantee for 20% of mandatory investments remaining, excluding the cruise ship dock in the above mentioned issue. from the pbadenger station. In other words, he will ask to pay only 20% of 105 million (225 minus 120 of his financial cruise) or 21 million.
During the marathon meeting of the Harbor Design and Development Committee, the Deputy Regional Governor of Piraeus, G. Gavrilis, Mayor of Keratsini-Drapetsona Chr, reported, among other things, on the approval of the Master Plan. Vrettakos, Deputy Mayor of Perama, President of the Association of Shipbuilding Employers, V. Kanakakis, Professor of Architecture N. Belavilas, President of the Association of Piraeus, N. Manesiotis, and various representatives of organizations and badociations. In support of the master plan, but with reservations, the mayor of Piraeus G. Maralis (reserve against the shopping center) and the president of the Association of Pbadenger Sea Transport Companies, Mr. Sakellis (reserve for the good and cabotage competition) were terminated. The president of the Chamber of Commerce and Industry of Piraeus, V. Korkides, was not convinced.
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