Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automated EquipmentGate AutomationRemote ControlProcess Automation
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Operations/TransportContainer leasingEquipmentM&R/Storage
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing 1 of your 1 guest articles

register  or  login  for full access to online news

EIB loans Piraeus €140M

The European Investment Bank (EIB) is loaning Piraeus Port Authority SA (PPA) €140 million to support its future modernisation and expansion programme.

Linked InTwitterFacebookeCard

Overall, €611M is being invested in new infrastructure and facilities, which include the decelopment of a new port-based logistics centre and cruise terminal. In addition, the port’s vehicle-handling facilities will be expanded and the existing ship repair facilities improved.


“Recent investment has shown how investment at the port of Piraeus can support economic growth and benefit Greece,” explained Yu Zenggang, chairman of PPA. “The confirmation of the EIB’s support for this latest plan follows detailed due diligence and reflects the broad benefits to be unlocked by the largest investment programme in the history of the port of Piraeus.”


Commenting on the loan, Andrew McDowell, vice-president of the EIB, said: “The redevelopment of the port will strengthen connections between Greece and the rest of the world and ensure that Greece benefits from a world-class maritime logistics hub. We are pleased to provide this loan for the principal maritime hub of Greece and one of the leading port in the Mediterranean region.


He added: “The EIB support reflects the economic benefits to be unlocked in the coming years and the importance of ensuring competitive transport links for Greece and South Eastern Europe.”


The EIB loan, which is for 20 years, is guaranteed by the Exports–Imports Bank of China.


Operations in the port of Piraeus are undertaken by China’s Cosco’s Shipping Ports Ltd which owns 50% of the authority’s shares. In 2018, Piraeus was the second largest port in the Mediterranean basin, but on the back of continuing strong growth in H1 2019, is expected to achieve premier position this year. Over 5M TEU will be processed.

Linked InTwitterFacebookeCard

You may also be interested in...

Hutchison raises rail questions

Crowley selects XVELA

Sails for rockets

CMP/DFDS plug-in

Shore power push in Germany

Tracking in Algeria

Related Stories

Crisis in Cape Town

Congestion and poor relations between management and workers are severely affect...

Crane down in Antwerp

An APL vessel has broken its moorings and hit a crane at DP World’s Antwerp Gate...

APM Terminals Gothenburg set to be “fossil-free” by 2020

Electric cranes, biogas for heating and biodiesel for straddle carriers underpin...

Big fall in SA export container tariff

The Ports Regulator of South Africa (PRSA) has announced tariff changes for 2020...
Linked In