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EIB Backs Greek Port of Piraeus Transformation

Logistic News - Published on Fri, 15 Nov 2019

Image Source: eib
The European Investment Bank has agreed to provide EUR 140 million to support expansion and upgrading of the Port of Piraeus, the principal port of Greece. The largest ever loan for port investment in the country by Europe’s long-term lending institution, will support the implementation of part of investments at the Port of Piraeus in a total investment plan of more than EUR 600 million. The first EUR 100 million tranche of the 20 year EIB loan was signed and the remainder agreed as project construction progresses. The EIB loan is guaranteed by the Export–Import Bank of China, and the guarantee facility contract between PPA and CEXIM was also signed

New investment at the Port of Piraeus includes development of a new port logistics centre, construction of a new cruise passenger handling facility, expansion of car shipping facilities, an improved ship repair area and the upgrade of the container terminal.

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Posted By : Yogender Pancholi on Fri, 15 Nov 2019
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