Shipping Minister Puts Piraeus Port Investment on Track

Piraeus port

As pledged, the newly elected government is pushing ahead with major investment projects, among these the approval of the master plan for the development of Piraeus port.

The 612-million-euro investment by Piraeus Port Authority manager Cosco as well as a specific time frame for the works topped the agenda of talks this week between Shipping Minister Ioannis Plakiotakis, deputy PPA CEO Angelos Karakostas, and public assets body representative (TAIPED) Athanasios Liagos.

The landmark “Pagoda” building in Piraeus. Photo Source: Piraeus Port Authority

The investors are set to re-submit the revised master plan – already approved by the Port Planning and Development Committee – by August 20.

More specifically, the committee has already approved the creation of a new warehouse, the construction of a five-storey parking space, the purchase of eco buses, the construction of a cruise ship terminal, the revamp of the landmark Pagoda building into a 5-star hotel and conference center, the conversion of two existing warehouses into 4- and 5-star hotels, and the creation of a 5-star hotel in the Porto Leone position.

Additionally, the committee also approved a culture ministry proposal for the conversion of a 1934 silo on the port of Piraeus into a Museum of Underwater Antiquities, which will be a part of the Piraeus Cultural Coast project.

The old silo at the port of Piraeus. Source: olp.gr

The committee did not approve the construction of a dockyard for mega yachts as well as the shipyard use for certain areas.

Aiming to move swiftly ahead with the project, Plakiotakis said the ministry would immediately set up a management authority which will be responsible for examining and approving all relevant environmental impact studies, concluding that final approval would require the submission of an updated master plan.