Piraeus investment plan under threat

Cosco’s 580-million-euro investment program for Piraeus Port Authority (OLP) looks set to reach an impasse, if expectations that the OLP master plan will be rejected by the state following Tuesday’s discussion at the Port Planning and Development Commission prove correct.

The port regulator is expected to announce its verdict on the investment plan on Wednesday, and sources tell Kathimerini it will only approve the investments already provided for in OLP’s concession contract to Cosco, amounting to 225 million euros, with the rest pending certain conditions.

Cosco has stressed the plan can only apply in its entirety.