PIRAEUS PORT AUTHORITY SA
Sign of finance contract
On Thursday 25/6/2009, was signed a further finance contract between P.P.A.SA and European Investment Bank (EIB) concerning the Project EXPANSION AND EQUIPMENTS UPGRADE OF PIER I at the Piraeus Port Container Terminal.
The additional loan amounts to euro 55 millions and loan repayment is to be made within 20 years from the disbursement date with a 5 years grace period. The choice of interest rate between fixed or floating will be made by P.P.A S.A upon disbursement date. The repayment of the loan will be made in thirty (30) semi-annual instalments, payable on June and December and the interest is payable quarterly.
The financing of the project forms part of the euro 3 billions Framework Agreement signed in 2005 between the Ministry of Mercantile Marine, Aegean and Island Policy, and the European Investment Bank (EIB) for the financing of maritime transport development projects in Greece with particularly favourable terms.
The additional loan amounts to euro 55 millions and loan repayment is to be made within 20 years from the disbursement date with a 5 years grace period. The choice of interest rate between fixed or floating will be made by P.P.A S.A upon disbursement date. The repayment of the loan will be made in thirty (30) semi-annual instalments, payable on June and December and the interest is payable quarterly.
The financing of the project forms part of the euro 3 billions Framework Agreement signed in 2005 between the Ministry of Mercantile Marine, Aegean and Island Policy, and the European Investment Bank (EIB) for the financing of maritime transport development projects in Greece with particularly favourable terms.