Destinations news Greek Shipping Ministry Welcomes Updated €800m Piraeus Port Plan by GTP editing team 2 September 2019 written by GTP editing team 2 September 2019 0 comments Share 0FacebookTwitterLinkedinWhatsappEmail 15 Photo source: Piraeus Port Authority (PPA) Greek Shipping Minister Yiannis Plakiotakis expressed his satisfaction with a new updated master plan for the development of Piraeus Port submitted last week. Photo Source: PPA “This investment, which is a huge stake for the country, sends a crystal clear message to foreign investors, both in China and around the world, that our government is committed, within legal bounds, to proceed rapidly with all the structural changes needed so that all investment programs that can improve the competitiveness of our national economy find fertile ground [for growth], benefiting not only investors but also the Greek people,” Plakiotakis said. The upgrade of Greece’s largest port is considered one of the upcoming period’s largest investment projects, with port manager, Hong Kong-based shipping giant Cosco committing to modernization works worth 800 million euros – up from the initial 612 million euros – aiming to establish the port as one of Europe’s top three in terms of container handling capacity. The updated master plan for the port, also includes the construction of a fourth container pier and a cruise terminal service center with Duty Free Shops. The revised investment (for Pier IV) is budgeted at 330 million euros and will be constructed on the east end of Pier I with a capacity of 2.8 million teu, boosting total capacity to over 10 million teu. Photo Source: PPA According to Piraeus Port Authority official data, container traffic in 2018 increased by 18.4 percent to 4.9 million teu against 2017, with a further 5.6 million teu increase expected this year. The plan is currently in the hands of the country’s Port Planning and Development Committee, which will issue the final approval. According to insiders, the current plan appears to have the approval of all decision-makers, while Plakiotakis referred to the multiple benefits for Piraeus and the national economy. Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post INSETE: Five New Greek Destinations Winning Over Travelers in June next post GNTO Chief Sets Priorities for Greek Tourism You may also like Test post 6 June 2025 Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ