Greece's second-largest port, Thessaloniki, has begun a EUR225.7 million US$261.88 million) expansion to double the size of its container terminal and accommodate vessels of up to 24,000 TEU, reports London's Lloyd's List.
Thessaloniki signed a contract with Greek construction consortium Metka-Tekal to expand Pier 6. The three-year project will dredge the navigation channel and extend the terminal area, boosting annual capacity from 650,000 TEU to 1.5 million TEU.
The port authority said the works mark the largest expansion in Thessaloniki's history. The project comes amid heightened geopolitical tensions between the US and China over control of Piraeus, Greece's largest port.
Chinese operator Cosco won a 2008 tender to run most of Piraeus's container terminal under a long-term concession. In 2016, Cosco took majority control of the port authority, later raising its stake to 67 per cent.
Washington's new ambassador to Greece, Kimberly Guilfoyle, last week called Cosco's role in Piraeus port may be sold to new owners or rival facilities strengthened. Greek officials indicated Athens will not reverse its deal with Cosco but may develop other ports as a counterbalance.
One proposal involves Onex, a Greek-American industrial group, extending its Onex Elefsis Shipyards near Piraeus to operate as a port. The debate reflects wider US-China competition across global sectors.
https://www.shippingazette.com/news?news_id=9251100000887
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