Cosco to expand Piraeus port by building fourth pier

Cosco, the operator of Piraeus port, plans to build a fourth cargo pier, expanding its total investment in the port by 200 million euros to a total of 800 million, well-informed sources say.

In the new master plan it will submit for approval on August 20, after discussions with the government, the Piraeus Port Authority will include the construction of a fourth pier (Pier IV) with a capacity of 2.8 million twenty-foot equivalent units (TEUs), just east of the current Pier I.
The aim is to expand the port's capacity to over 10 million TEUs, comparable to the biggest Northern European ports. This plan had already been communicated to Prime Minister Kyriakos Mitsotakis during his visit to the port before the election.

Cargo traffic at Piraeus port reached 4.9 million TEUs in 2018, 18.4 percent higher than the previous year, and over 700 percent higher than when the...