Cosco’s management at the Piraeus Port Authority (OLP) this week announced the completion of a new pier to service cruise ships, specifically at the Aghios Nikolaos site at the major port.
By A. Tsiblakis
Cosco’s management at the Piraeus Port Authority (OLP) this week announced the completion of a new pier to service cruise ships, specifically at the Aghios Nikolaos site at the major port.
The construction project was completed in 75 days, a development that turned many a head in the greater Piraeus area, and also provided a first insight into how the Chinese multinational aims to exploit the concession for one of the biggest ports in the eastern Mediterranean.
The project had been delayed for four years under the previous state-appointment management of OLP.
Work began on July 5, 2016 and was completed on Sept. 20, 2016.
Completion of the new pier is also viewed as a prerequisite for gaining the “green light” from the Attica regional authority (the greater Athens area) for expanding port facilities towards the Faliro Bay, east to south-east of Piraeus.
The new cruise ship pier is shaped like a triad and is billed as being able to service the most modern vessels plying the seas. The first phase of construction, budgeted at 120 million euros and included in a previously submitted financing scheme, was funded by EU and national credit lines by 95 percent. The second phase will be financed exclusively by Cosco.
Sources told “N” that the Shanghai-based shipping giant’s leadership is keenly interested in boosting the cruise ship sector in the wider region and transforming Piraeus into a hub for international operators' cruise ships.
The new pier will be inaugurated on Oct. 3, in the presence of Cosco President Capt. Xu Lirong and Greek tourism officials.