Piraeus: port’s expanding plans go ahead
The European Investment Bank (EIB) has agreed to provide EUR 140 million to support the expansion and upgrading of the port of Piraeus, the principal port of Greece. It is the largest loan Europe’s long-term lending institution has ever provided for port investment in the country.
The project includes the development of a new port logistics centre, the construction of a new cruise passenger handling facility, the expansion of car shipping facilities, an improved ship repair area and the upgrade of the container terminal.
“Redevelopment of the port of Piraeus will strengthen connections between Greece and the rest of the world,” according to EIB. The port of Piraeus is the busiest in the Mediterranean and the world’s 32nd largest port in terms of container cargo traffic. (ben)