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Greek authority axes Piraeus expansion

Athens - Greece’s Port Planning and Development Committee has rejected a plan submitted by Cosco-controlled Piraeus Port Authority (PPA) to build a fourth container terminal at the port as part of a EUR800m ($881m) investment master plan

Athens - Greece’s Port Planning and Development Committee has rejected a plan submitted by Cosco-controlled Piraeus Port Authority (PPA) to build a fourth container terminal at the port as part of a EUR800m ($881m) investment master plan.

PPA’s master plan includes the development of a new mall and hotels, a new cruise ship terminal, a new car terminal, and a fourth container terminal to expand the port’s current container capacity from 7m teu to 10m teu.

The committee approved most of the master plan, except for the container terminal, giving the reason that the conditions for a new container terminal are not mature at the moment.

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