PPA letter to the ASE on the issue of state aid to the Concession Agreement between PPA and PCT

Piraeus, 11.10.2012


Press release


PPA SA sent the following letter to the ASE (Athens Stock Exchange), on the arisen issue of state aid to the Concession Agreement between PPA SA and PCT SA:

Piraeus Port Authority S.A. notifies that from the Invitation to submit comments which published by the European Commission – Directorate General for Competition (C 301/55) the concession agreement of Piers II and III of the Container Terminal between Piraeus Port Authority and Piraeus Container Terminal is not affected in any way, since according to those admitted, state aid issues are not raised.With the Invitation above, the Commission considers that certain tax advantages provided by the Greek State to PCT SA and included in the subsequent articles 2 and 3 of the Law 3755/2009 constitute state aid and ask the Greek government to submit its comments.

As Mr. George Anomeritis commented, "the case, which is investigated by the European Commission, has no bearing on the relations and operations of the two piers, which are operated by PPA SA and PCT SA. The whole affair does not concern Article 1 of the Act, which provides, among others, the economic relations between the two parties. "