OLP beefs up investment plan

Piraeus Port Authority (OLP), operator of Greece's largest port, has increased its investment plans to attract more business to what is one of Europe's biggest harbors, a government spokesman said on Wednesday.
OLP, majority owned by China's Cosco Shipping, has submitted an 800-million-euro plan to Greece's Shipping Ministry, government spokesman Stelios Petsas told reporters.
An OLP official told Reuters that a ministerial committee will discuss the plan on September 25 and is likely to approve it, unblocking crucial investments for port infrastructure.
China hopes to turn Piraeus port into its gateway to Europe.
A previous 620-million-euro plan, comprising mandatory and voluntary investments, including a new cruise ship terminal, a mall and four hotels at the port, had not been approved due to local community opposition over the size of the mall.
Cosco,...