Athens torpedoes Cosco plans in Piraeus

After a lengthy meeting that went on until midnight on Tuesday, the Central Archaeological Council (KAS) has decided to obstruct the Cosco-owned Piraeus Port Authority's (OLP) 600-million-euro master plan by characterizing a large part of Piraeus as an area of archaeological interest that must be protected.

KAS has rejected the creation of a mall within the country's biggest port and sought changes to the structure of the five-star hotel planned for the Porto Leone area of Piraeus. It also rejected the creation of ship repair zones at Kynosoura and Ambelakia on the nearby island of Salamina and the removal of OLP's floating dock from Psytalia.

The decision is expected to result in a major delay of at least eight months for the start of implementation of any of the investments planned, according to Cosco sources. Those eight months will add to the two-and-a-half years...