Piraeus port inaugurates expanding car terminal, €20m investment

Prospects at the port of Piraeus are strengthening due to the expansion of its car terminal. It is a project with a total investment of €20m that will see the expansion of the car terminal by approximately 40,000 m2.

The expansion of the car terminal by approximately 40,000 m2 towards the northern side of the port, increases the total area of the new terminal to 110,000 m2, which overall creates car storage space with a capacity of 5,100 cars, contributing to the further development of the Piraeus port.

The inauguration ceremony for the project called “Completion of the Expansion of RoRo – Heracleous port” took place on February 6 with the presence of distinguished quests.

The Greek minister of shipping and insular policy, Christos Stylianides, pointed that the completion of this investment, totaling 20,000,000 euros and the expansion of 40,000 sq.m., is an important achievement, as it creates new perspectives for the port of Piraeus.

Piraeus port inaugurates expanding car terminal, €20m investment

“With the implementation of this pivotal project, the government’s strategic commitment to development and innovation is confirmed. At the same time, the leadership of our country in the world of shipping, is being enhanced,” he said.

The expansion of the car terminal at Heracleous port will be followed by many more projects to upgrade the country’s port infrastructure in the coming months and years.

Piraeus Port has become one of the most important transportation hubs for Chinese vehicles exported to Europe.

It is worth mentioning that in 2023, the Chinese vehicle brand “MG Motor” and the Chinese high-end smart electric vehicle brand “Seres” entered the Greek market for the first time.

“The entry of Chinese electric vehicles into Europe and Greece not only promotes the green transformation of transportation in Europe and Greece but also effectively promotes the rapid development of the roll-on/roll-off business in Piraeus port,” said the ambassador of the People’s Republic of China to Greece, Xiao Junzheng.

Christos Staikouras, Minister of Infrastructure, stated that Piraeus is, today, one of the fastest growing ports in the world.

“With the PPA adding economic value to the country equal to 1.56% of its GDP. Having this value as a given, but also taking advantage of the experience of the development of the contractual relationship of the parties (Hellenic State, Cosco, Taiped) in the previous years, we proceeded in 2021, to amend the Concession agreement, in order to ensure its smooth execution.

“The result of this new, functional and balanced contract is the implementation of investments, such as the one we are inaugurating today, which concerns the expansion of the car terminal,” he added.

The chairman of PPA S.A, Yu Zenggang, stated: “Today another one step was taken towards the realization of Cosco Shipping’s holistic vision for the port of Piraeus. The expansion of the car terminal will act as a driver of development for the wider area.”