Major investment implemented by Piraeus Port Authority

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The inauguration ceremony for the project “Completion of the Expansion of RoRo – Heracleous Port” took place at the Car Terminal of PPA S.A.

It is a project with a total investment of €20 million which is included in the Mandatory Investments of PPA S.A., within the framework of the agreement with the Greek State. This project will further improve the competitiveness and attractiveness of the port as a vehicle transshipment hub in the Mediterranean.

The expansion of the Car Terminal by approximately 40,000 m2 towards the northern side of the port, increases the total area of the New Terminal to 110,000 m2, which overall creates car storage space with a capacity of 5,100 cars, thus contributing to the further development of the Piraeus Port Authority.

The Chairman of PPA S.A. Mr. Yu Zenggang stated: “Today another one step was taken towards the realization of COSCO SHIPPING’s holistic vision for the Port of Piraeus. The Expansion of the Car Terminal will act as a driver of development for the wider area. We would like to thank the Greek Government for the excellent cooperation and we will continue to cooperate for the promotion of the Port of Piraeus as one of the top ports in the world and to further increase our positive footprint in Greek society and economy”.

The implementation of this great project was welcomed at the event by the Minister of Maritime Affairs & Insular Policy, Mr. Christos Stylianides, who represented the Prime Minister and the Greek Government and stated: “The completion of this investment, totaling 20,000,000 euros and the expansion of 40,000 sq.m., is an important achievement, as it creates new perspectives for the port of Piraeus. At the same time, it will significantly strengthen the competitiveness and attractiveness of the country’s biggest port”. Mr. Stylianides also pointed out that “with the implementation of this pivotal project, the government’s strategic commitment to development and innovation is confirmed. At the same time, the leadership of our country in the world of shipping, is being enhanced.”

Also, the inauguration ceremony honored with their presence the Minister of Economy & Finance Mr. Kostis Hatzidakis, who mentioned: “The positive developments in the port of Piraeus are a substantial contribution to economic development for the benefit of all Greeks! Today’s expansion of the car terminal at Herakleous Port will be followed by many more projects to upgrade the country’s port infrastructure in the coming months and years. The policy we are implementing – as Government and as HRADF – for the utilization of Public Property in the biggest Greek ports, will create benefits for Greece. And we are only at the beginning!”, as well as the Minister of Infrastructure & Mr. Christos Staikouras who pointed out: “Piraeus is, today, one of the fastest growing ports in the world. With the PPA adding economic value to the country equal to 1.56% of its GDP. Having this value as a given, but also taking advantage of the experience of the development of the contractual relationship of the parties (Hellenic State, COSCO, TAIPED) in the previous years, we proceeded in 2021, to amend the Concession agreement, in order to ensure its smooth execution. The result of this new, functional and balanced contract is the implementation of investments, such as the one we are inaugurating today, which concerns the expansion of the Car Terminal.

The event was also attended H.E. the Ambassador of the People’s Republic of China to Greece Mr. Xiao Junzheng, who highlighted: “Piraeus Port has become one of the most important transportation hubs for Chinese vehicles exported to Europe. It is worth mentioning that in 2023, the Chinese vehicle brand “MG Motor” and the Chinese high-end smart electric vehicle brand “Seres” entered the Greek market for the first time. The entry of Chinese electric vehicles into Europe and Greece not only promotes the green transformation of transportation in Europe and Greece but also effectively promotes the rapid development of the roll-on/roll-off business in Piraeus Port”.

The ceremony of blessing was performed by the Metropolitan of Nicaea, Mr. Alexios, in the presence of important government and institutional representatives.