Piraeus Port Authority and Piraeus Container Terminal, part of Cosco Pacific, announced that it has signed a revised investment agreement, under which Cosco Pacific will invest a further €230m into the Greek port. The plan has already been approved by the port shareholders.
The investment plan will increase the annual capacity of the port’s piers II and III to 6.2m TEU from the current 3.7m TEU. In addition, Cosco Pacific plans to develop an oil product facility at the port.
“A significant development project worth €230m was signed today with the concession agreement, making Piraeus, one of the most modern and biggest freight ports in Europe,” said Giorgos Anomeritis, President and Managing Director of Piraeus Port Authority.
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