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. 17/07 22:54

    Greek Orthodox Archbishop Elpidophoros meets with President Trump

  2. 17/07 22:33

    Greek airports record 5.3% rise in passengers during H1 2019

  3. 17/07 22:08

    US Ambassador to Athens Pyatt: Greece is now a source of solutions

  4. 17/07 21:28

    Kostas Loulis new Secretary-General of Tourism in Greece

  5. 17/07 16:59

    New Greek Prime Minister says Greek bond sale will attract investors

  6. 17/07 15:35

    Friday the last day of traffic restrictions in downtown Athens this summer

  7. 17/07 12:19

    Tourist arrivals to Cyprus drop in June and during first six months of 2019

  8. 17/07 11:53

    Greece's newly elected parliament sworn in on Wednesday (video)

  9. 16/07 22:51

    Parga: The gem of Epirus and the Ionian Sea in Western Greece

  10. 16/07 22:50

    New York Euripides Summer Festival presenting two classic masterpieces

  11. 16/07 22:47

    Grand Resort Lagonissi opens new Grand Hall conference center in Athens

  12. 16/07 22:30

    Tax authorities: Over 20,000 Airbnb Greek properties still not registered

  13. 16/07 22:21

    Classical music festival returns to Greek islands of Koufonisia for 4th year

  14. 16/07 22:15

    E-real estate network chief: AirBnB effect in Athens focuses on inner city district

  15. 16/07 22:08

    Greek-American TV persona Maria Menounos wins on Celebrity Family Feud

  16. 16/07 21:07

    ANIMART festival on Greek island of Hydra from July 22 until July 31

  17. 16/07 20:47

    Jewish communities in Greece welcome Minister's denunciation of neo-Nazi past

  18. 16/07 18:33

    Moody's upgrades outlook for three systemic Greek banks

  19. 16/07 16:15

    Algean Property Ionian Sea Report 2019: "Everlasting Experience"

  20. 16/07 15:56

    3200 hotel CEOs reveal top hospitality and leisure trends for 2019

  21. 16/07 15:18

    Kimisis tis Theotokou Hamptons Greek Festival a great success (video)

  22. 16/07 14:52

    ESM chief: Reform drive of new Greek government to stimulate investments welcome

  23. 16/07 12:37

    Sheraton’s new logo appears on hotels worldwide for first time in over 40 years

  24. 16/07 12:29

    Minister: Seven-year bond yield records return of Greek economy to normality

  25. 16/07 10:20

    TripAdvisor: Online reviews still a trusted source of information when booking trips

  26. 16/07 00:54

    Canal d'Amour: the famous beach of lovers on the Greek island of Corfu

  27. 16/07 00:27

    Greek Public Debt Management Organisation to launch seven-year bond

  28. 15/07 22:25

    EU announces measures against Turkey's illegal drilling in Cyprus' EEZ

  29. 15/07 22:00

    Greek state budget shows primary surplus of €382 million in January-June

  30. 15/07 21:07

    New Greek government to cut ENFIA property tax 30% within two years

  31. 15/07 21:06

    Legendary yacht of Onassis ‘Christina O’ sails into Greek island of Poros

  32. 15/07 18:02

    New Greek Finance Minister Staikouras meets with ESM Director Regling

  33. 15/07 13:07

    Athens Airport awardsTurkish Airlines for remarkable growth rate in last 5 years

  34. 15/07 11:56

    Culinary Tourism: Greek beer thrives from Antiquity to modern microbrews

  35. 14/07 23:28

    Travel & Leisure: Four Greek islands among Europe's top-5 for 2019

  36. 14/07 14:37

    New Greek Development Minister: Hellinikon project will move "very, very quickly"

  37. 14/07 14:29

    Well-known squat of closed Athens hotel abruptly ended after new government elected

  38. 14/07 13:51

    Initiative to invite new Greek PM to address joint session of U.S. Congress

  39. 13/07 20:18

    Opening of “Cyprus: 45 years of occupation” show in Athens

  40. 13/07 19:45

    French Ambassador: France will continue to help Greece in its economic take-off

  41. 13/07 14:50

    Chalkidiki power and water networks to be fully restored by nightfall in northern Greece

  42. 13/07 14:22

    Foods that protect the human skin from the sun

  43. 13/07 13:59

    Meteo services: Weather in Greece to worsen from Saturday evening

  44. 13/07 13:47

    Shops open in Greece on Sunday for first week of summer sales

  45. 12/07 23:48

    Film festival on Greek island of Syros takes cinema to unlikely locations

  46. 12/07 20:13

    Private sector arrears to the Greek state ease slightly down in March

  47. 12/07 17:57

    Acropolis in Athens gains its first permanent doctor

  48. 12/07 17:20

    "Greek Freak" Giannis Antetokounmpo voted Best Male Athlete in the U.S. (video)

  49. 12/07 16:44

    Greek-Swedish Antique special anniversary reunion concert for one night only

  50. 12/07 16:28

    AP: New Greek government recognizes Guaido, not Maduro, as Venezuela’s president

  51. 12/07 15:54

    Paris Hilton spotted on a yacht in Greek island of Mykonos for second year

  52. 12/07 14:17

    New energy minister in Greece to jump-start delayed Helleniko and Skouries projects

  53. 12/07 13:36

    Surf Art Festival Vol. 6 returning to Athens suburb of Faliro on July 12-14

  54. 12/07 00:41

    Greece loses battle over lower taxes for traditional Tsipouro and Tsikoudia drinks

  55. 11/07 21:40

    Festival by "The Friends of the Greek Islands and the Sea" on Sifnos

  56. 11/07 21:36

    Sky News Australia show marks Greek election by dancing and throwing plates (video)

  57. 11/07 21:09

    Greek island of Kastellorizo: from the Dodecanese at the Athens airport

  58. 11/07 20:54

    Leading IT Chinese firm "DeepBlue Technology" expands in Greek market

  59. 11/07 20:34

    European Commission to assist Greece following severe storm

  60. 11/07 20:30

    Production value up 9% in accommodation and food service activities in Cyprus

  61. 11/07 20:24

    AP: Mobile phone link now working on both sides of split island of Cyprus

  62. 11/07 19:59

    Watercolors of the Acropolis: Emile Gillieron in Athens show at the Met

  63. 11/07 19:52

    AirHelp: Thousands of passengers who flew to Greece in 2018 can claim compensation

  64. 11/07 19:46

    New Greek PM Mitsotakis first priority: Hellenikon reboot already underway

  65. 11/07 19:33

    New Minister to strengthen relations between Greece and Greek Diaspora

  66. 11/07 19:28

    210,000-year-old human skull found in Greece is the oldest fossil outside Africa

  67. 11/07 19:20

    Six foreigners and one Greek die in rare severe storm in Chalkidiki

  68. 11/07 18:01

    Athens Stock Exchange: Majority of securities continued upward course

  69. 11/07 17:41

    High-voltage Moudania-Kassandria network in Chalkidiki restored after storm

  70. 11/07 17:36

    Greek government: Immediate action to restore damage from storm

  71. 11/07 17:06

    Greek city of Volos hosts Summer Beer Festival

  72. 11/07 14:41

    Growth projected to recover in Greece during the second half of the year

  73. 11/07 13:04

    Civil Protection warned on dangerous weather conditions in northern Greece

  74. 10/07 21:21

    Theresa May congratulates new Greek PM Mitsotakis on election win

  75. 10/07 21:01

    New Citizens’ Protection Minister promises security for all in Greece

  76. 10/07 20:05

    Funding for Feature Films by South Eastern European Cinema Network in Cyprus

  77. 10/07 19:48

    New Greek Prime Minister begins work on 12 key priorities

  78. 10/07 17:13

    Νew Starbucks outlet at Syntagma Square in the heart of Athens

  79. 10/07 17:12

    Lifestyle mobile app launches on Greek island of Paros

  80. 10/07 17:08

    Cyprus promotes joint travel packages with neighbouring countries

  81. 10/07 17:03

    Cavafy International Summer School on poet as "international literary phenomenon”

  82. 10/07 16:56

    Shipping Minister hopes Cyprus-Greece ferry link to begin next summer

  83. 10/07 15:06

    House Price Index in Cyprus records increase during Q1 2019

  84. 10/07 14:10

    Scent from Ancient Greece in new Dolce & Gabbana fashion show (video)

  85. 10/07 13:00

    Trivago: Five Hotel technologies that can create personalized guest experiences

  86. 10/07 12:53

    La Traviata performance in Athens Herod Atticus between July 27-31

  87. 10/07 12:41

    “The Thread”: Greek tradition meets modern dance in Europe and Athens

  88. 10/07 12:29

    Useful tips for easy car rental and driving across Greece

  89. 10/07 12:23

    New ferry boat purchased by Attica Group and renamed into 'Blue Carrier 1'

  90. 10/07 12:07

    DNA Study: Ancient Greeks related to Biblical Philistine enemies of Jews

  91. 10/07 12:00

    EU: Greece needs to immediately adopt systemic solution in reducing NPEs

  92. 10/07 11:55

    Amorgos: Explore the Greek island of “The Big Blue”

  93. 10/07 11:47

    “Evdokia”, centuries-old olive tree on Corfu island acquires date of birth

  94. 10/07 11:42

    AHEPA fulfills $1 million commitment to rebuild Saint Nicholas at WTC

  95. 10/07 09:37

    New Greek PM Mitsotakis has phone contact with US President Trump

  96. 10/07 00:56

    Greek government tables bill to accelerate process for huge Helleniko privatization

  97. 09/07 22:54

    Tourism slows down in Greece after five record years

  98. 09/07 22:07

    The Greek symbolism on the new Giannis Antetokounmpo sports shoe

  99. 09/07 21:54

    New York Times report: “Greece is the Good News Story in Europe”

  100. 09/07 21:48

    New development minister in Greece: Obstacles to Helleniko investment will be removed