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Cosco signs Hill International to oversee Piraeus port expansion
NEW YORK-listed Hill International, a Philadelphia construction risk consultant, announced it has the contract to supervise the China Cosco's EUR350 million (US$399 million) capital expenditure of the Piraeus Port Authority.
Last August, Cosco acquired a majority stake in OLP, the company running the main Greek Port of Piraeus.
The four-year EUR2.4 million contract entails expanding the main Greek port's infrastructure, including dredging and upgrading facilities to be complete by August 2021.
Spanning more than 27 kilometres (16.7 miles) along the coast, covering five million square metres (53.8 million square feet), reported the American Journal of Transportation.
The contract calls for the elevation of the port's status as a key European transport, prompting investments in other sectors.
Hill was appointed as the port authority's independent engineer, monitoring all aspects of the implementation of the Capital Expenditure Programme.
"This is a major foreign direct investment and a project of national significance for Greece. We are honoured by this appointment and we look forward to supporting its delivery," said Hill vice president Emmanouil Sigalas.
Last August, Cosco acquired a majority stake in OLP, the company running the main Greek Port of Piraeus.
The four-year EUR2.4 million contract entails expanding the main Greek port's infrastructure, including dredging and upgrading facilities to be complete by August 2021.
Spanning more than 27 kilometres (16.7 miles) along the coast, covering five million square metres (53.8 million square feet), reported the American Journal of Transportation.
The contract calls for the elevation of the port's status as a key European transport, prompting investments in other sectors.
Hill was appointed as the port authority's independent engineer, monitoring all aspects of the implementation of the Capital Expenditure Programme.
"This is a major foreign direct investment and a project of national significance for Greece. We are honoured by this appointment and we look forward to supporting its delivery," said Hill vice president Emmanouil Sigalas.
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