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. 20/02 07:54

    ECM records' annual meeting and live shows at Thessaloniki Concert Hall

  2. 20/02 07:49

    Greek coastal shippers ask that new port surcharge won't be bumped to sector

  3. 20/02 07:42

    832 wines sampled at Thessaloniki International competition

  4. 20/02 07:37

    Event celebrating Ancient Greek music takes place in Athens

  5. 20/02 07:28

    Greek hospitality body SETKE blasts airbnb-style accommodation

  6. 20/02 07:22

    Parliament votes on draft bill for exploitation of 10 regional Greek ports

  7. 20/02 07:04

    Snow set to hit Greece again by end of the week

  8. 20/02 06:47

    Work stoppage on line 1 of Athens electric railway on Thursday

  9. 20/02 06:30

    Greek Tourism showcased at 6th Mediterranean Tourism Forum

  10. 20/02 06:23

    New €1 billion raiway projects in Peloponnese launched by Greek Infrastructure Minister

  11. 20/02 06:20

    Minister: Greek forestland registration more than half complete

  12. 20/02 06:10

    Modern Greek event in Sydney of Australia inspired by Athens nightlife (video)

  13. 20/02 06:03

    Privatized Thessaloniki port to become a final destination for goods and commuters

  14. 19/02 18:17

    Crucial vote on Tuesday on Cosco's master plan for Greek port of Piraeus

  15. 19/02 17:08

    Majestic super moons rise over Greece even during winter

  16. 19/02 10:04

    Cyprus’ residents trips abroad grow by 11% in January 2019

  17. 19/02 09:59

    Eminent US archaeologist wants Parthenon marbles return to Greece

  18. 19/02 09:52

    Athens Benaki Museum Pireos opens its architectural archives to children

  19. 19/02 09:48

    Tourist arrivals to Cyprus up by 8% in January 2019 due to rise in UK flow

  20. 19/02 09:42

    Scoot: Flights from Australia to Greece for only $299

  21. 19/02 09:35

    Athens-based company presents Euripides-inspired play to London theatre

  22. 19/02 09:29

    The Telegraph: Foreign Airbnb golden visa investors booting Greek tenants

  23. 19/02 09:23

    Climbing Tourism: Female expedition to plant Greek flag on Mount Everest

  24. 19/02 08:55

    Ancient Greek phisosopher Aristotle: Pursuit of happiness not a destination but a journey

  25. 19/02 08:47

    City Break report: Athens can be a changed city by the 2021

  26. 19/02 08:42

    Medical Tourism: Greek-Australian philanthropist donates $500,000 for health care

  27. 19/02 08:33

    Ten Athens eateries distinguished at FNL Best Restaurants awards

  28. 19/02 08:28

    Expression of interest for "Thriassion II" logistics park near Athens to take place in March

  29. 19/02 08:22

    Report: Real estate market growth can boost the Greek economy

  30. 19/02 08:13

    Greece’s top-10 archaelogical discoveries during the last decade

  31. 18/02 10:16

    AHEPA welcomes Congress support for United States-Greek relations

  32. 18/02 10:12

    Undeclared work decreased significantly in Greece during 2018

  33. 18/02 10:08

    BBC radio provides translation of quintessential Greek words

  34. 18/02 10:00

    Video of Good Samaritan saving stranded sea turtle in Crete goes viral

  35. 18/02 09:56

    International tender for casino at Helleniko site on the horizon

  36. 18/02 09:52

    "Greek Freak" Giannis Antetokounmpo to play for Greece in FIBA World Cup

  37. 18/02 09:48

    Concession contract for Crete's new Kasteli Airport to be inked by end of February

  38. 18/02 09:40

    InSETE report records 7% drop in air seats to Greece after several years of rises

  39. 18/02 09:35

    Saudi Arabian Airlines launches new Riyadh-Athens flight connection on June 5

  40. 18/02 09:28

    Juncker expresses condolences for iconic Greek "Baker of Kos" passing

  41. 18/02 09:22

    Book on Google promotes direct hotel reservations in more European markets

  42. 18/02 09:12

    AP: Hundreds stranded as British carrier Flybmi collapses due to fuel cost and Brexit

  43. 18/02 09:07

    EU Commissioner Cretu in Ancient Olympia: Greece has ingredients and tools for success

  44. 18/02 09:01

    Movie Tourism: Cyprus joins race to attract filmmakers for shooting

  45. 18/02 08:52

    Visitors and revenues to Greek museums and sites rise in first ten months of 2018

  46. 17/02 13:06

    Athens airport concession contract extension approved by Greek Parliament

  47. 17/02 12:44

    Award-winning Australian writer Hannah Kent to visit Athens and Thessaloniki

  48. 17/02 12:37

    First Energy Leadership Summit to be held in Athens in June

  49. 17/02 10:20

    Road rules restricting use of vintage cars amended in Greece

  50. 16/02 22:40

    AHI President visits Greece and Cyprus for series of meetings and events

  51. 16/02 22:36

    US government offices in Greece to stay closed on Monday, February 18

  52. 16/02 22:26

    Norwegian Air offering summer deals with $159 one-way to Athens

  53. 16/02 22:13

    Thessaloniki Regional Forum hosts three-day event with Balkan agenda

  54. 16/02 20:44

    Folk Tourism: Greeks mark arrival of Spring with ancient tradition of Martis

  55. 16/02 18:32

    Cyprus Religious Tourism: Spiritual leaders urge churches' restoration

  56. 16/02 16:22

    Athens Half Marathon to take place on March 17

  57. 16/02 12:10

    Mountain professionals gather in Germany to seek their way to the top

  58. 16/02 10:06

    Greek banks: Deal on first home protection a positive step

  59. 15/02 23:57

    Cabinet greenlights changes in Cyprus Investment Program

  60. 15/02 23:50

    Greek “Blessings and Vows” wins best documentary awards

  61. 15/02 23:38

    Greek Minister stands firm on realizing Crete-Attica power connection

  62. 15/02 23:13

    The Hellenic Initiative supports “Agigma Zois” with a $17,000 grant

  63. 15/02 22:19

    iMEdD marks launch with a 24-hour program of events in Athens (video)

  64. 15/02 21:07

    Thessaloniki Metro's trial operation to commence soon

  65. 15/02 19:23

    Six major motorway projects underway in Greece during the next 5 years

  66. 15/02 19:02

    Ancient Greek tragedy "Agamemnon" at the National Theatre of China

  67. 15/02 17:04

    Greek supermarkets to record turnover growth of 1.5% from last year

  68. 15/02 15:59

    Greek MPs back separation of president's election from dissolution of Parliament

  69. 15/02 13:50

    AP report: Seven arrests for counterfeit cash targeting tourism in Greece

  70. 15/02 13:09

    Prince Charles supports more than 2,200 young unemployed people in Greece

  71. 15/02 13:01

    Greece selects Katerine Duska for Eurovision Song Contest 2019

  72. 15/02 12:31

    Greek violin workshops presented in Tarpon Springs, Florida

  73. 15/02 11:21

    Athens to welcome carnival season with event in Plaka on Sunday

  74. 14/02 23:00

    New documentary on Giannis Antetokoumpo’s fascinating career (video)

  75. 14/02 22:52

    Aristotle University of Thessaloniki cooperates with historic foundations

  76. 14/02 22:20

    New UNWTO report: Walking tourism promotes regional development

  77. 14/02 21:41

    62% rise in US air travel demand in next 20 years

  78. 14/02 20:32

    Fashion meets cinema at 1st Athens Fashion Film Festival on February 25-27

  79. 14/02 18:01

    Pet Tourism: Young Greek man in Crete dedicates his life to stray dogs

  80. 14/02 17:09

    City Break: Saint Valentine’s evening out in Athens costs nearly €70

  81. 14/02 16:49

    MasterCard: Contactless transactions in Greece grew 3,662% since 2016

  82. 14/02 16:41

    Media: ExxonMobil to announce huge discovery in Cyprus's plot 10 next week

  83. 14/02 16:18

    Ferry service to resume from Greek ports of Piraeus, Rafina and Lavrio on Friday

  84. 14/02 15:34

    Greeks in UK will have to travel to EU countries to vote in European elections

  85. 14/02 14:28

    Exiled Turks fleeing Erdogan regime find new lives in Greece

  86. 14/02 12:54

    IMTM: More than 700,000 Israelis to visit Greece in 2019

  87. 14/02 12:53

    Europarliament event on rebuilding Korakou Bridge to take place in Athens

  88. 14/02 12:03

    Main opposition leader repeats pledge for private universities in Greece

  89. 14/02 10:29

    AP report: Penguins celebrating Valentine’s Day with red felt hearts

  90. 13/02 23:43

    World’s largest espionage headquarters opens in Berlin after 12 years

  91. 13/02 23:38

    Mars One goes bankrupt ending private planet colonization project

  92. 13/02 23:37

    Giannis Antetokounmpo holds baby during entire TV interview (video)

  93. 13/02 22:53

    The story behind an ‘Olympic Airways’ plane resting in an Oregon forest

  94. 13/02 22:43

    Athina Onassis to visit Greece for equestrian event after 12-year absence

  95. 13/02 22:33

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

  96. 13/02 21:44

    Tourist regions boost construction sector in Greece

  97. 13/02 21:28

    Thessaloniki Documentary Festival organizers announce Greek film lineup

  98. 13/02 19:26

    10 Greek startups participate in Infacoma 2019 exhibition

  99. 13/02 15:02

    Melbourne prepares for Lonsdale Street Greek Festival on February 23-24

  100. 13/02 14:52

    Strong winds keep ships docked at ports across Greece