The port of Piraeus will now become one of the largest vehicle transit centers in the Eastern Mediterranean as today the expansion of the PPA car terminal, covering an area of ​​approximately 40,000 m2, to the north side of the port was inaugurated.

The new investment of the Cosco subsidiary amounted to 20 million euros, enabling the parking of an additional 5,100 cars. It is included in the mandatory investments of the Organization, according to the Concession Agreement and is a Priority II project. The total area of ​​the vehicle handling station now amounts to 110,000 sq.m. .

The new project included expansion works of the existing pier built in 1962, with the improvement and upgrading of the port infrastructure, electrical installations, in order to achieve a change of use from a shipbuilding repair activity to a car handling station.

The Minister of Shipping and Insular Policy Christos Stylianidis spoke of an important achievement that opens wide new perspectives for the port of Piraeus and significantly strengthens its competitiveness. He added that the new infrastructure represents a critical step towards enhancing the functionality of the port and promoting its commercial activities globally

The Minister of Shipping noted that the port of Piraeus with this investment becomes a transshipment hub in the Mediterranean Sea and contributes in this very innovative way to the development of the port and the development of the entire Greek economy

“With this specific investment, the strategy of commitment of the government of Kyriakos Mitsotakis to development and innovation is confirmed once again,” he emphasized.

The Minister of National Economy and Finance Kostis Hatzidakis said that the delivery of today’s project is a reference point in the course of sustainable development of the port of Piraeus, “another step that will help Greece become a major transit center not only in Southeast Europe but also worldwide” .

He pointed out that the port of Piraeus is now in the 4th pan-European position in the handling of containers and in the 3rd position in all of Europe in terms of cruises but also in the first position in Europe in terms of passenger handling.

He spoke of a significant upgrade of the port of Piraeus, adding that its economic value is estimated at 1.56% of the Gross Domestic Product.

Transport Minister Christos Staikouras pointed out that the port of Piraeus is one of the fastest growing ports in the world as its geographical position makes it a vital transit commercial logistics tourist and communication hub, while he referred to the amendment of the public-private agreement in 2021 in order to ensure the smooth execution of projects and investments.

As he pointed out, the project, which was completed on July 22, 2023 and for which more than 250 people worked, will act as a driver of development for the wider region and will further improve the competitiveness and attractiveness of the port as a transit and storage hub for vehicles and wheeled goods in the Mediterranean Sea, the Black Sea and North Africa.

The Ambassador of the People’s Republic of China to Greece Xiao Juncheng, after expressing his warm congratulations on the completion of the specific project in the port of Herakles, said that in the context of the recent visit of the Greek Prime Minister to China, it was agreed to further strengthen cooperation in the transport sectors , shipping, communications, digital technology, finance, science and technology. He added that within the framework of the cooperation between the two countries, more opportunities will be created for the development of the port of Piraeus. He also said that the port of Piraeus has become one of the most important transit ports for Chinese vehicles exported to Europe.

Finally, the president of PPA S.A. Yu Zeng Gang called the new project a landmark for the port of Piraeus and the country for the transport sector.

“We are witnessing a vision for the creation of an advanced and efficient vehicle terminal in the port of Piraeus that will enhance its capacity, making it one of the most important ports in the Mediterranean and in the wider region,” he said.

He also emphasized that this is a significant investment in the infrastructure as well as new capital for the country, adding that the port administration remains focused on the environmental dimension of the project and always in accordance with the guidelines that are part of the agreement.