Members of a shipping ministry-affiliated committee are expected to vote on Tuesday over the Piraeus Port Authority’s (PPA) submitted master plan, a nearly half-billion-euro investment and development scheme that extends beyond strictly port activities, naftemporiki.gr reports.
The master plan’s provisions for a shopping mall, hotels, a ship repair zone and a new logistics center within PPA’s premises have, nevertheless, drew criticism by surrounding municipalities, associations representing merchants in the wider Piraeus area and rival businesses in the adjacent shipbuilding and repair district.
The leadership of the Cosco-owned and managed port authority appears guarded over the prospect of the master plan being greenlighted in its entirety.
Conversely, while shipping ministry officials have said they are in favor of the investment, the final decision comes with the committee vote.
The projects in the master plan that are expected to be approved are the obligatory provisions included in a concession contract between Chinese multinational Cosco and the Greek state inked in 2016.
Contractual obligations for new investments reach nearly 294 million euros and regard 11 separate projects.
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