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Piraeus Port Authority Promotes Shipbuilding Investment

Piraeus Port Authority promotes shipbuilding investment

Source: COSCO Shipping Ports Ltd
Piraeus, Greece (PortSEurope) September 29, 2020 – Piraeus Port Authority S.A (PPA) has reported on its development of the port’s shipbuilding industry. During last four years, Piraeus Port Authority S.A. has been investing in the ship repair infrastructure to develop the competitiveness of the Perama ship repair zone, as a matter of priority of the port’s development plan. From 2016, a series of investments and
achievements have been completed. PPA invested €4 million in restoring the operational capabilities of the two existing floating docks which had been partially suspended their operations Thus, competitiveness has reduced. One new floating dock, Piraeus III, with 80,000 tons capacity was added which has since served 80 ships. The new floating dock has the ability to repair the large local coastal ferries and Panamax ship which in the past had to go to the shipyards in Turkey or elsewhere. The authority has also improved the healthy and safe environment in Perama ship repair zone through the upgrading the security facilities and disposing of hazardous chemicals which accumulated over many years. The investment in the first stage, over €32 million, had improved the performance of the facility local ship repair industry. The annual docked ships increased by 56% from 69 in 2016 to 108 in 2019 and the berthed for repairs ships increased to 292 from 233, up 25%. In 2020, having the Covid-19 coronavirus crisis as the main challenging factor, the ship repair business volume is estimated to keep increasing, docked ships will increase up to 130, nearly double from 2016. PPA has emphasised that ship repair works are all provided by the local private ship repair companies and workshops with high quality. Recently, PPA published a new project tender with budget of over €20 million to further upgrade the infrastructure and electromechanical installations in the facility. Piraeus Port Authority is operated by China’s COSCO Shipping Ports Limited. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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