Greek Committee of Planning and Development of Ports approves € 611.8 mln investment plan for port of Piraeus
On October 9, the Greek Committee of Planning and Development of Ports (ESAL) confirmed, in its press release, the approval of the PPA Master Plan, which had been examined by the Committee during its meeting on September 25, COSCO SHIPPING said in its release.
ESAL said the approval means that the big investment of € 611.8 million, which will create thousands of new jobs and will contribute to the local economic growth, has entered the implementation phase.
Located in the southeast of Greece, Piraeus is the largest port in the country.
In 2016, COSCO SHIPPING acquired 67% of PPA’s shares, officially taking over its operation. The container throughput had increased from 880,000 TEU in 2010 to 4.9 million TEU in 2018.
According to PPA’s statistics, the estimated annual throughput of Piraeus’ three container terminals is expected to reach 5.5-5.8 million TEU this year.