Countdown for Cosco's €500 million master plan for Piraeus Port in Greece

Α Decrease font Enlarge font
Countdown for Cosco's €500 million master plan for Piraeus Port in GreeceProspect of new resort and high-rise hotels within the port authority.

A reverse countdown is underway for a closely watched meeting by a shipping ministry-related committee that will, to a large extent, determine whether Cosco's master plan for the Piraeus Port Authority (PPA) is approved, naftemporiki.gr reports.

The state-owned Chinese multinational port and shipping giant assumed the management of PPA in August 2016 after winning an international tender for the sale of a majority stake (66 percent) of Greece's largest and busiest port facility.

The latest reports point to a session by the relevant ports committee by the end of February.

The highly ambitious plan by PPA's management aims to enhance the port's growth prospects through an expansion of activities are not are directly linked with port operations, although it has generated reactions by political parties - mostly on the left - surrounding municipalities and local chambers of commerce.

Unofficial negotiations during the recent period between PPA officials and the leadership of the shipping and environment ministries over specific projects in the master plan have reportedly failed to bridge differences.

According to sources that spoke to "Naftemporiki", the Tsipras government's proposal calls for the draft master plan to be broken up into two parts, with the first including all of the projects specified in a framework contract between Greece's privatization agency (HRADF) and Cosco. The second part of the agreement would include "non-obligatory" projects, mostly the ones that have attracted opposition, such as a new shopping mall within PPA's premises, hotels and even high-rise construction.

However, the same reports point to PPA's flat refusal of such a "two-part" compromise. The Cosco side has more-or-less responded with a terse three-word "all or nothing" counter-proposal.

At the same time, PPA has kicked off a campaign to persuade at least some of the opponents of its 500-million-euro master plan to change their minds.

Reactions to the master plan continue

The fiercest opposition centers on the prospect of a new mall being constructed next to a new 120-million-euro cruise ship hub, despite the fact that the latter project has been temporarily blocked by legal challenges from contractors, who lost out in a tender for its construction.

Furthermore, chambers representing Piraeus' traders and shop owners are loath to allow the construction of a mall within the port authority and next to where tens of thousands of cruise ship passenger enter and leave on a seasonal basis.

Conversely, "Naftemporiki" has collected data and initial forecasts showing that the total outlay - roughly 200 million euros - for a new cruise ship hub will require additional commercial exploitation, beyond just cruise ship arrivals and home porting, in order to cover the total investment.

PPA sources also promised a mall with "high-end" stores and outlets catering to more high-end cruise ship passengers, and therefore, not direct competitors with Piraeus' merchants.

Another major source of opposition to the master plan is Cosco's intent to build and manage a new logistics center on a 12-hectare tract of land adjacent to the Keratsini municipality.

According to reports, the municipality's current administration opposes the project, saying it will further burden an already industrialized district, while other reports cite opposition by the relevant transports ministry.

The leftist government, with the aforementioned ministry in particular, has emphasized and promoted a project to build and run a massive logistics center in the Thriasio industrial district, due west of the Piraeus port.

Cosco, nevertheless, wants its own logistics hub within its port premises.

The other highlight of the master plan that has stirred reaction is the prospect of new resort and high-rise hotels within the port authority.

The ministry's compromise is to permit, in the first phase, for the renovation of current buildings - mostly unused - as hotels, with new construction coming at a later phase.

Cosco, yet, considers new hotels within the PPA as a fundamental component in its cruise policy, with planning leading all the way to Beijing, given that Piraeus is considered as a choice destination for Chinese tourists choosing Mediterranean cruises for their overseas holidays.

Finally, strong opposition has been expressed by repair units and smaller shipyards in the Perama district to the prospect of Cosco building a 8,500-ton "synchrolift" within the port authority.

Standing opposition by ship repair and maintenance contractors to any shipyard license for PPA is adamant, considering that the sector believes that such unit within the port authority would exterminate competition.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: bertknot


Tornos
  1. 16/03 13:01

    Greek Deputy Foreign Μinister meets her Slovenian counterpart in Athens

  2. 16/03 12:56

    Greek-Canadian Diaspora to welcome Greek Prime Minister to Toronto

  3. 16/03 11:28

    Greek Migration Minister visits refugee hosting facilities in Kavala, Drama and Serres

  4. 15/03 21:50

    Greek Minister announces conference on defence ecosystem in Athens from Lithuania

  5. 15/03 13:45

    PM: More than 80 hospitals and 156 health centres being upgraded in Greece

  6. 15/03 12:55

    Piraeus Port and Genoa Chambers of Commerce ink memorandum of cooperation

  7. 14/03 23:43

    President of Hellenic Republic meets Prime Minister of Slovakia in Bratislava

  8. 14/03 22:58

    American Express report highlights Global Travel Trends during 2024

  9. 14/03 22:52

    Four hospitals in Attica Region already organizing afternoon surgical procedures

  10. 14/03 22:49

    US Ambassador to Athens: More flights from the United States to Greece and Thessaloniki

  11. 14/03 22:43

    Greek archaeologists discover ten ancient shipwrecks off Aegean island of Kasos

  12. 14/03 19:32

    No new intubations for Covid-19 recorded in Greece for the first time

  13. 14/03 18:36

    Extra road safety measures adopted for Greek pre-lent carnival and Clean Monday

  14. 14/03 14:48

    HRADF eyes bidders for Lavrio Port majority share

  15. 14/03 12:54

    Electric buses to be deployed on the streets of Athens and Thessaloniki by May

  16. 13/03 22:23

    Chairman: 2023 was an exceptional one for AEGEAN Airlines

  17. 13/03 20:11

    Prices of basic lenten products either lower or equal to last year's in Greece

  18. 13/03 19:15

    US Ambassador to Athens: Greece secures NATO readiness via Alexandroupolis

  19. 13/03 17:19

    Greece shines at 1st European Cruise Exhibition

  20. 13/03 12:26

    Greece shows new costumes for revamped Olympic Flame-lighting ceremony

  21. 12/03 22:46

    Epirotes Society of Philadelphia ‘Omonia’ organized 16th Annual ‘Tsipourovradia’

  22. 12/03 21:38

    The President of the Hellenic Republic to visit Slovakia on March 13-15

  23. 12/03 20:29

    First afternoon surgeries in Greece kick off at Papageorgiou Hospital in Thessaloniki

  24. 11/03 23:58

    Greek Foreign Minister: We stand behind Montenegro's European perspective

  25. 11/03 23:47

    Visa Express for Turkish citizens to commence on five Greek islands in March

  26. 11/03 19:40

    Amadeus acquires travel payments expert Voxel

  27. 11/03 18:49

    Microsoft Data Center construction kicks off in Spata next to Athens Airport

  28. 11/03 17:53

    Dodecanese Federation marked 76th Anniversary of Unification with Greece

  29. 09/03 22:23

    The future of travel planning is multimodal and interactive

  30. 08/03 14:27

    Prime Minister: Radical change in Greek education and a brave reform for growth

  31. 08/03 14:24

    Traffic restrictions expected in Athens mid-morning to evening on Friday due to protests

  32. 08/03 14:24

    Applications to out-of-court settlement more than doubled in Greece in February

  33. 08/03 13:18

    Metro station 'Maniatika' near Piraeus Port to be closed on Saturday and Sunday

  34. 07/03 14:12

    Athens wins World Travel Award 2024 as the top city-break destination in Europe

  35. 06/03 22:51

    WTTC data show Greece and Portugal lead league for growth in tourist arrivals

  36. 06/03 20:28

    Greek Tourism Minister at ITB: 2024 will be another excellent year for sector

  37. 06/03 19:47

    Greek Foreign Minister to meet UAE Minister of Industry and Technology on Friday

  38. 06/03 18:43

    European Union actions of 274m euros to support cultural heritage in Greece

  39. 06/03 16:37

    'Odontotos' rack railway temporarily stopped until landslides issue is resolved

  40. 06/03 14:40

    Minister: Bringing about the return of Greeks abroad 'a moral duty'

  41. 05/03 14:28

    Archdiocese of America Eparchial Synod to meet on March 14-17 in Florida

  42. 05/03 14:21

    The 'Lent Basket' to be launched in Greece on March 13

  43. 05/03 14:11

    ITB BERLIN 2024 opens with excellent bookings after global rise in travel in 2023

  44. 05/03 12:24

    Greek PM at Athens supermarket: Consumers 'can already see lower prices on the shelf'

  45. 04/03 22:02

    Greek Health Minister: Afternoon surgeries at state hospitals to begin shortly

  46. 04/03 21:47

    Holy Cross Greek Orthodox Whitestone Community marks 49th Anniversary

  47. 04/03 20:27

    Labor chief: Greece to train 500,000 workers in digital, green skills by 2025

  48. 04/03 19:44

    Foreign Ministry to organize event on 'Women, Peace, and Security' on Friday

  49. 04/03 15:12

    Athens Riviera | The summer experience with Athens as a background

  50. 29/02 22:54

    Consumers to see price cuts up to 18.1% in 3,000 Greek supermarket products as of Friday

  51. 29/02 21:44

    Greece and Germany set up Working Group on shipping cooperation

  52. 29/02 21:30

    Wyndham Rewards’ Member Month offers 5 weeks of deals, discounts, and bonus points

  53. 29/02 21:03

    Temple of Poseidon at Sounion near Athens to get new lighting system

  54. 29/02 21:02

    Greek Tourism Minister meets with Ambassador of Qatar

  55. 29/02 20:47

    Greece is represented by 60 firms at GULFOOD 2024 exhibition

  56. 29/02 19:58

    Greek government gives 1+1 month extension for cash register-integrated POS terminals

  57. 29/02 19:49

    Archangel Michael Church Dance Program shines at Folk Dance Festival in SF

  58. 29/02 15:39

    'Renovate-rent' programme to be launched, Minister tells Greek Parliament

  59. 29/02 12:39

    Rio-Antirrio ferry line in central Greece closed due to strong winds

  60. 28/02 21:34

    Weather with heavy rain and storms in Greece as of Sunday night

  61. 28/02 17:31

    CEO: The goal is for PPC to become a leading player in Southeast Europe

  62. 28/02 17:04

    New Wyndham Hotels Market Managing Director of Central and Eastern Europe

  63. 28/02 12:21

    Minister: Transactions with the Greek State will be further simplified in 2024

  64. 28/02 11:57

    24-hour strikes halt trains and ferries in Greece

  65. 27/02 17:25

    UN Tourism hails Saudi Arabia's historic milestone of 100 million tourists

  66. 27/02 15:00

    Greek Prime Minister: Relations with Armenia can become even more productive

  67. 27/02 14:26

    Wyndham: New growth cycle in Greece for the largest hotel chain franchise in the world

  68. 27/02 13:15

    Price cuts of up to 15% in important product categories in Greece after March 1

  69. 27/02 12:46

    Athens taxi drivers' protest rally in progress from Athinon avenue to Messogion

  70. 26/02 18:30

    Annual Summit of Women Political Leaders (WPL) to be held in Athens in April

  71. 26/02 18:27

    Culture Ministry: Schwartz Mansion in Ampelakia near Larisa to get new lighting

  72. 26/02 17:25

    Greek president organizes reception for diplomats at Presidential Mansion

  73. 26/02 16:33

    Trapped rack-railway passengers returned safely to Diakopto in Peloponnese

  74. 26/02 16:21

    Public transport, ferry and taxi strikes in Athens on Wednesday

  75. 25/02 12:30

    Greek island of Ikaria among the Blue Zones for Health Eating and Longevity

  76. 24/02 20:39

    Greek PM meets Qatar Emir: Focus on bilateral cooperation and investments

  77. 24/02 18:25

    Prescription cannabis for medicinal use legally available in Greece for the first time

  78. 24/02 17:19

    MInister: The aim is to make fishing and fish-farming a key pillar of the economy

  79. 23/02 23:36

    Greek Prime Minister arrives in Doha to be received by Sultan bin Saad Al Muraikhi

  80. 23/02 23:26

    The Festival of Greek Dances takes place in the Metropolis of San Francisco

  81. 23/02 21:32

    Revealing "70 Years of Friendship: Greece's photo journey through the Korean War"

  82. 23/02 17:15

    16 Greek firms showcase at international fashion exhibitions in London

  83. 23/02 14:09

    Flights to and from Heraklion airport in Crete resume on Saturday

  84. 22/02 18:15

    Bill for non-state, non-profit universities being tabled in Greek Parliament on Thursday

  85. 22/02 18:13

    Temporary residence for displaced Ukrainians extended in Greece to March 2025

  86. 22/02 18:10

    American Hellenic Institute Golden Jubilee celebration Includes concert on April 12

  87. 22/02 18:09

    Tourism Minister stresses importance of strong relationship of Greece with Serbia

  88. 22/02 17:58

    Education protest rally ends and traffic resumes in Athens city center

  89. 21/02 19:47

    Twistic and WeavAIR startups clinch the UN Tourism Hospitality Challenge

  90. 21/02 18:34

    Greece's key aim is enhancing relations with India

  91. 21/02 18:13

    Traffic in Athens returning to normal after tractors depart from the Greek capital

  92. 21/02 13:01

    Greek Tourism Minister in Belgrade for International Exhibition

  93. 21/02 00:55

    Resilience through diversity and investments the aim of UN Tourism visit to Jamaica

  94. 20/02 23:38

    Rally concludes with farmer tractors leaving Athens on Wednesday morning

  95. 20/02 20:43

    Greek Prime Minister on official visit to India as of Wednesday

  96. 20/02 16:51

    Minister: Greece wants to become India's gateway to the European Union

  97. 19/02 21:19

    DEFEA Conference to be held at Stavros Niarchos Foundation in Athens on May 15

  98. 19/02 19:06

    Traffic restrictions for farmers' rally in central Athens on Tuesday

  99. 19/02 18:11

    Greece wins top tourist destination award at Grand Travel Awards in Sweden

  100. 19/02 14:23

    Health Minister: Option of afternoon surgeries at public hospitals start in Greece