BUSINESS

Cosco invests €90 mln in OLP

ILIAS BELLOS

TAGS: Business

Cosco Shipping is immediately starting new investments of 70 million euros for the modernization and the capacity expansion of the three container terminals at Piraeus Port Authority (OLP), so as to retain its dominant position in the Mediterranean.

Along with the upcoming investments in the ship repair zone, worth €20 million, next year’s Cosco investment in OLP will add up to €90 million.

These investments are expected to take the annual handling capacity of the port to a total of 8 million containers by the end of 2021, from 7.2 million today.

Those works will fill the gap until the construction of the fourth terminal, which should take Piraeus’ handling capacity to over 10 million containers per annum.

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