Bloomberg News

Cosco’s Greek Unit on Target to Fulfill Piraeus Pier Contract

October 01, 2012

Piraeus Port Authority SA (PPA), which operates Greece’s biggest port, said work by Piraeus Container Terminal SA, a unit of Cosco Pacific Ltd. (1199), to modernize Pier II and build a third pier is proceeding on time.

“The projects are being carried out within the contractual dates,” the authority said in an e-mailed statement today.

Cosco won in 2009 a contract to run container operations at Pier II, which started in 2010, and to build Pier III. The two facilities will have total container handling capacity of 3.7 million 20-foot equivalent units when the third pier is operational. That’s scheduled for 2015.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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