COSCO

Greece's biggest port is taking measures to address the problem of pollution from ships and industrial activities in the area, Piraeus Port Authority (OLP) has said.

In the next few days - if not on Tuesday - Cosco is expected to submit to the Port Planning and Development Commission a memorandum with its remarks on the watchdog's original opinion.

There was little chance of the government changing the economic policy mix it has relied on for the past four years in the runup to elections. Instead, it remains capable only of running up excessive primary surpluses through overtaxation while failing completely to revive the real economy.

After a lengthy meeting that went on until midnight on Tuesday, the Central Archaeological Council (KAS) has decided to obstruct the Cosco-owned Piraeus Port Authority's (OLP) 600-million-euro master plan by characterizing a large part of Piraeus as an area of archaeological interest that must be protected.

The main opposition on Wednesday decried a ruling by Greece's Central Archaeological Council (KAS) which limited the area on which China's Cosco can invest in Piraeus as "outrageous," and attributed it to ruling SYRIZA's "ideological obsessions."

Environment and Energy Minister Giorgos Stathakis sought to dispel fears over possible setbacks in the investment plan of Chinese giant Cosco in Piraeus on Wednesday, after Greece's top advisory body on the protection of antiquities voted to declare part of the area in question to be of archaeological interest.

Cosco-owned Piraeus Europe Asia Rail Logistics (PEARL), Goldair, and the consortiums of Damco and the FDL Group, and Italian-owned Trainose and Sarmed have expressed interest in the concession of the 1.45-square kilometer plot in the Thriasio area by Hellenic Railways Organization (OSE) for the development of a new transit center.

The state mechanism is again blocking several key foreign investments, which according to independent observers such as the Foundation for Economic and Industrial Research (IOBE) add up to more than 10 billion euros over the medium term.

The state mechanism is again blocking several key foreign investments, which according to independent observers such as the Foundation for Economic and Industrial Research (IOBE) add up to more than 10 billion euros over the medium term.

Cosco's 580-million-euro investment program for Piraeus Port Authority (OLP) looks set to reach an impasse, if expectations that the OLP master plan will be rejected by the state following Tuesday's discussion at the Port Planning and Development Commission prove correct.