Piraeus, Greece (PortSEurope) October 11, 2019 – Piraeus Port Authority SA (PPA), operated by China’s COSCO Shipping Ports Limited, has announced that the Greek Committee of Planning and Development of Ports (ESAL) has approved investments amounting to €611.8 million ($674.04 million), including all the business units of the company, and which will contribute considerably to the development of the local and national economy.
ESAL approved the PPA investments, but this did not include a fourth container terminal put forward by the authority.
The Chairman of PPA, Yu Zenggang, commented that after a long waiting period, the company had obtained the approval to proceed with the implementation of significant investments that will make Piraeus the most important port in the Mediterranean and will create even more jobs.
He added that the company hopes that the relevant authorities will soon review the expansion of the container terminal, as it is one major investment that will establish the Piraeus port as one of the top container terminals in Europe.
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