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Greek Ministry Statement In Piraeus Port Authority Expansion Approval

Greek Ministry statement in Piraeus Port Authority expansion approval

Greek Ministry Statement In Piraeus Port Authority Expansion ApprovalSource: Hellenic Republic Asset Development Fund

Greek Ministry of Shipping and Island Policy – Beginning of investing in Piraeus port for a new age – October 11, 2019

A flagship investment for Greece, which has been stalling for many years, begins immediately after ESA’s decision to approve Piraeus Port Authority’s master plan. which includes investments of €611.8 million ($674.04 million).

(PortSEurope Note: Piraeus Port Authority is operated by China’s COSCO Shipping Ports Limited)

This important development was confirmed during the visit of the President of PPA SA. Mr YU Zenggang to the Minister of Shipping and Island Policy Mr Yannis Plakiotakis.

Mr. YU thanked both the Greek Government and Mr. Plakiotakis personally for his decisive contribution to the rapid promotion of the investment of PPA, which was approved within just three months, noting that COSCO Shipping was and remains a strong ally of the Greek economy, contributing decisively to the development of the country. 

Mr Plakiotakis expressed his satisfaction at the fact that a particularly significant investment, which has faced years of obstruction and has been plagued by “obsessions”, is now taking the road of implementation, opening a new page in excellent relations between Greece and China.  

“Investments planned by PPA, include upgrading the port of Piraeus and creating thousands of new jobs. At the same time, the approval of the master plan proves that our country is now friendly to investments that are both visionary and realistic and create real added value.”

The aim of the Ministry of Maritime and Island Policy is to continue to invest rapidly, always in line with national and European legislation, ensuring the interest not only of the Greek economy but also of society.

Source: Greek Ministry of Shipping and Island Policy

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