Piraeus Port, Cosco to sign new agreement
Piraeus Port Organization and SEP (Cosco) are expected to sign a new revised friendly settlement plan agreement later this afternoon on Thursday.
The plan, approved by Piraeus Port's shareholders, envisages investment plans worth 230 million euros in the port.
SEP (Cosco), in an announcement said that the agreement is a big business plan worth 230 million euros for Piraeus, the port of Piraeus and SEP SA which will be entirely covered by the company".
The investment plan will boost the annual capacity of the port's II and III piers to 6.2 TEUs from 3.7 million currently, while the net current value of the contract will be raised from 498 million euros to 678-1,027 million euros, while SEP will build a new oil product pier with more favourable financial terms.
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