Piraeus Port master plan provisionally approved

During its 78th meeting in February, the committee had given the green light to all binding investments as foreseen by the concession deal between the Greek state and the Piraeus Port Authority.

More specifically, the committee approved the creation of a new warehouse, the construction of a five-storey parking space, the purchase of eco buses, the construction of a cruise ship terminal, the revamp of the landmark Pagoda building into a 5-star hotel and conference center, the conversion of two existing warehouses into 4- and 5-star hotels, and the creation of a 5-star hotel in the Porto Leone position.

The committee did not approve the construction of a dockyard for mega yachts as well as the shipyard use for certain areas, and suggested the conversion of the silo into a Museum of Underwater Antiquities within the Piraeus Cultural Coast project.

Final approval requires the re-submission of the amended master plan.

Meanwhile, speaking during its general shareholders meeting, OLP CEO Fu Cheng Qiu reiterated Cosco’s plans to continue with investments for the upgrade of the port, adding that since it entered Greece 11 years ago, it has proceeded swiftly with the implementation of all its investments and will continue to do so with those included in the said master plan.

“I want to reassure that we will continue with our investments. We want to make the port even brighter and more efficient. We have an ambitious plan to transform Piraeus into a hub for the wider Southeastern Europe region,” said Yu Zenggang, executive vice president COSCO, adding that the current government has supported its investment activity and that he expects the newly elected government to do the same.