Cosco may well have to wait for its Piraeus development plan to materialize

Sources in Piraeus say it will be hard for the Piraeus Port Authority’s (OLP) masterplan to win approval during the current pre-election period.

Although the Cosco-controlled listed company will not make any official comments, sources estimate that the plan, which provides for a multitude of investments at the port, including four hotels, a mall and other developments, will be very hard to promote at this stage given that they may impact on local and regional interests.

Meanwhile OLP is about to relaunch the tender for the rectification of significant structural problems at Terminal I, budgeted at 14.3 million euros.