Greece is preparing to tender off the largest project to be carried out at the port of Piraeus which foresees the extension of the port to accommodate larger cruise ships.
The competition date for the project, budgeted at 170 million euros, has tentatively been set for August 31, with a contractor scheduled to be selected by October.
Piraeus Port Authority (PPA) managers Cosco have already tabled plans to transform Piraeus into a Mediterranean home porting hub, boost trade activity and further develop cruise travel. Chinese maritime giant Cosco’s master plan also foresees strengthening Piraeus’ reputation as a tourism destination with the construction of four new hotels on the port’s premises.
The project aims to expand the southern zone of the port so that a new terminal can accommodate four next-generation cruise liners simultaneously.
Indicatively, in 2017, the PPA recorded a 92 percent increase in pre-tax profits, amounting to 21.2 million euros compared to 11 million euros in 2016 with the net results up by 68.6 percent to 11.3 million against 6.7 million in 2016.