Piraeus Port II 2

Promoter – Financial Intermediary

Piraeus Port Authority S.A.

Location

• Greece

Description

The project comprises the upgrading and expansion of the Pier I of Piraeus Port, at the Ikonion Container Terminal in Attica region, to provide extra capacity (estimated at 1.3 twenty foot equivalent - TEU per year) to accommodate future traffic growth.

Objectives

Piraeus Port is the largest port in Greece with a vital position operating both as a port for the wider area of Greece, as well as for the Balkans and Black Sea countries.

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

Up to EUR 46 million.

Total cost (Approximate amount)

EUR 93.50 million.

Environmental aspects

The project falls entirely within the existing harbour and an EIA was carried out for the Port Master Plan including the container terminals. The Project is an upgrade and increase in scope of the earlier Port of Piraeus II project and as such would fall under Annex II of the EIA Directive. The Promoter has informed the Bank that the competent authority has determined that no further environmental studies or EIA are required for the increased project scope. No Habitats or biodiversity impacts are expected from the change in scope. The changes in Environmental impacts related to the change in scope are expected to be minor. These matters will be verified during appraisal.

Procurement

The project is an upgrade and increase in scope of the earlier Port of Piraeus II project, the works for which were awarded under a contract with a tender advertised in the OJEU. The procurement for these works falls under the EU Utilities Directive and the increased scope of works which are necessary for the completion of the works have been awarded to the original contractor following a legal determination in Greece that such award of extra works complies with Greek and hence EU public procurement law. These matters will be verified during appraisal.

Status

Signed - 25/06/2009