The Pireaus Port Authority (OLP), managed by the Chinese shipping company COSCO, has announced major plans for the overhaul of the port of Pireaus. The plans include the construction of four hotels, a new cruise terminal and shopping centres totalling 40,000 square metres, which will be available to the public as well as cruise passengers. The move is yet another sign of growing Chinese investment and influence in Greece.
The OLP plans were submitted for consultation to local community entities and representatives of the municipalities neighbouring Piraeus. The plans are based on a study carried out for OLP by McKinsey aimed at highlighting Piraeus as a metropolitan hub for cruise tourism in the Eastern Mediterranean.
OLP appears to place great emphasis on drawing considerable tourism interest and boosting the cruise sector.