Work began on the construction of British American Tobacco’s international logistics hub at the installations of the local subsidiary of Cosco Pacific in Piraeus port on Monday.
The formal presentation of the investment, which took place at the Piraeus Chamber of Commerce and Industry on Mon, underscored the benefits that the BAT transit center will have on Piraeus, the forwarding business and the domestic economy in general.
It is estimated that when the hub is working at full capacity, a total of 3.1 billion cigarettes will pass through the facility on an annual basis, which translates into 1.1 billion euros in stored cargo value. It will be able to cover the needs of up to 10 countries and is seen forming an international junction that will forward the BAT products to Cyprus and Malta and even the countries of the Middle East and Africa.
That investment decision could potentially triple the product volume handled, contributing toward a rise in employment in Piraeus, with a great rise in container ship traffic made possible through the new transit center.
The first stage provides for the arrival in Greece of more than 2 million containers per annum from five BAT group factories in Europe.
BAT Hellas head Gianpiero Pazzanese announced the implementation of 100 million euros of investment in Greece during the next three years, confirming the group’s confidence in the Greek market and its potential, as well as Greece’s capacity to operate as a broader regional financial and trade hub.