Release date: 12 July 2005
Promoter – Financial Intermediary
Piraeus Port Authority S.A.Location
Description
The project comprises the extension of an existing pier and back-up area, plus investment in new equipment and machinery to increase capacity at the Neo Ikonio Container Terminal.
Objectives
Present container terminal facilities in the Piraeus Port restrict throughput to some 1.6M TEUs/year. The project is therefore necessary to further develop the role of Piraeus as an important hub in the East Mediterranean container trade and the Port’s strategic role with regard to Middle East and Black Sea traffic. The project will improve the efficiency of port operations and help to meet growing demand for container import/export and transshipment capacity.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 35 million.
Total cost (Approximate amount)
Approximately EUR 70-75 million.
Environmental aspects
The project (extension of Ikonion Pier I and backup area) falls under Annex II of the EIA Directive 97/11. The Environmental aspects of the project have been studied under the Master Plan for Piraeus Port 2004-2009, and the competent environmental authority (Ministry of Environment - MoE) is reviewing the studies. The MoE has determined that no separate EIA will be required for the works at Pier I, as the project's environmental aspects are already covered by the Master Plan. The process for review of the 2004-2009 Master Plan - in particular the decision by the competent authority whether to require an EIA for this new Master Plan (there was an earlier EIA for an old Master Plan 1994-2000, which gained its approvals in 1996), the status of any public consultations, and the mitigation measures proposed and their timing, including quarry rehabilitation works, will be reviewed during appraisal. No impacts are expected on Natura 2000 areas. This will be confirmed during appraisal.
Procurement
Project components have been or will be procured in accordance with applicable EU Directives on Public Procurement, with publication in EU Official Journal as required. This will be confirmed during appraisal.
Status
Signed - 21/10/2005
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).