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INFRASTRUCTURETzanio Hospital, which will meetathletes’ and spectators’ health-careneeds, will have a new wing by December2003, and the Ministry ofMerchant Marine will be located in anew building on Akti Vassiliadi by theend of the year. These projects are expectedto cost roughly ú104 million.Transportation projectsvalued at ú430 millionIt is estimated that ú430 million willbe appropriated for projects that includethe new interchange for thePeace and Friendship Stadium, whichwill be concluded in April 2004, theAthens-Piraeus Electric Railways(ISAP) metro station at Faliro, to berenovated by December 2003, and therenovation of the Greek Organizationof Trains (OSE) railway station atsome point in 2004. This station willbe used for commercial operations andas a business center, in line with internationalstandards. It will serve as thestarting and ending points for trains toand from Northern Greece and thePeloponnese, and will cover the needsof combined transport from the port.It will also be part of the new suburbanrail line and will be close to theISAP metro station. It is believed thatthe upgrading of the central train stationwill be a factor in attracting newprivate investment in the area.MarinasThe Flisvos and Zea marinas will undergoface-lifts with an additionalú55 million in investment. Managementof the ports has moved into privatehands, with two new joint ventures.One of them, Lamda Technol“The modernization of the water supply network at thecentral port is expected to be concluded in December2003, the landscaping of the surrounding area in March2004, and the construction of the underground parkinglot, with a capacity of 700 parking spaces, in July 2004.”Flisvos Marina, plans to promote theFlisvos marina as one of the most attractivein the Mediterranean. It plansto host primarily large pleasure yachtsthroughout the year. In addition toproviding services for yachts, the companyalso will offer integrated servicessuch as hotel accommodation and conferenceassistance. The second jointventure, Marina Zea S.A., has quitedifferent plans for Zea marina. ThePiraeus Mayor Agrapidis“The 2004 Olympic GamesPresent an Opportunityand a Challenge”"Piraeus is in a transitionalphase, seeking anew economic direction.The only stableparameter—its competitiveadvantage—is itsport. An entire range of infrastructureprojects is designed to keep the portalive, which is why the 2004 OlympicGames and EU Community Support Frameworkfunding constitute a unique opportunityfor Piraeus to upgrade its profile.At the same time, the city must take advantageof its most important asset: thesea. The fragile marine balance and accessof Piraeus residents to the sea mustbe restored. The biological purificationcenter at Psitaleia, when concluded, isexpected restore the marine ecosystem,which has been disturbed for many years.And I believe the beaches of Votsalakiaand Freatida will be full of swimmers onceagain this summer."14 AEGEAN NEWS SPRING 2003
The New Faceof OLP(PIRAEUS PORT AUTHORITIES S.A.)Investor interest is expected toincrease after a ú35 million face-liftin the central port area surroundingPiraeus Port Authorities S.A (OLP)conference center is completed.Major Public Works Projects at Piraeus PortProjectEstimated Date of CompletionTrain station 2004Tramline May 2004Peace and Friendship Stadium interchange April 2004Tzanio Hospital (addition and structural support) December 2003Peace and Friendship Stadium (restoration) December 2003Underground parking lot (700 parking spaces) July 2004Port landscaping March 2004Port water supply network (modernization) December 2003New passenger station December 2003Hotel (Palataki) December 2004company wants to use the area surroundingthe marina as a recreationarea for residents and visitors. Themarina will have a capacity of 670boats through the use of floating piers.The Piraeus real estate marketFollowing the trend in other urbanGreek areas, in the last 30 years Piraeushas become a densely populatedcity, with 19,000 inhabitants persquare kilometer. In Stockholm, bycomparison, there are 4,000 inhabitantsper square kilometer. The denseconstruction, lack of open areas, andnewly-constructed blocks of flats, inaddition to traffic problems, have keptmarket demand for real estate in thecity center low. Prices have also remainedstagnant. The saturation ofbuilding in the area and changes in theport's suburbs have turned buyer interestto areas such as Keratsini,Drapetsona, Korydallos, Nikaia andNeapoli. On average, newly builtapartments cost ú1,600 to ú1,760 persquare meter in the more desirablewestern regions. Business premises inthe area are relatively low-priced, andinterest is primarily on the main arterialroads (Pireos, Kifissia, Thivon,Petrou Rali, and Iera).Although prices are low comparedwith Athens, these areas are nowstarting to gain ground in the real estatemarket. Moreover, large investmentgroups have expressed interest inthe area. One example is the GreekNational Bank, which plans to createone of the largest theme parks inSoutheast Europe in an old fertilizerplant in nearby Drapetsona.● In the central port, and the areasurrounding the OLP exhibition andconference center, companies involvedin a wide range of port activities aresuffocating. Illegal parking and streetpeddlers create extensive traffic jams,poor air quality, and noise pollution.● Current works attempt to bring aradical change to the OLP area.Construction projects, includingparking lots, entrance gates to thefacility, recreation areas, and ticketbooths, are expected to easecongestion and drive peddlers away.● The value of these projects is estimatedat ú35.2 million, the majority of whichwill be covered by European Unionfunds and the remainder by OLP. Thefirst phase of renovation in the centralport has been concluded at a cost ofabout ú5.8 million.● Experts believe that with the OLPrenovation and the completion ofimportant infrastructure worksconnected with the Olympic Games,Piraeus will again be in the position toattract investment interest.● Office premises in the center ofPiraeus have been suffering from lowdemand and correspondingly lowprices in recent years. Poorinfrastructure has prompted manyshipping companies, which hadtraditionally been headquartered in thearea, to locate elsewhere.SPRING 2003 AEGEAN NEWS 15
Page 1: Aegean NewsT H E Q U A R T E R L Y
Page 5 and 6: contents8AkisTsohatzopoulosdiscusse
Page 7 and 8: Dimitris MelissanidisAn Interview w
Page 9 and 10: Greece & Turkey Sign Pipeline Agree
Page 11 and 12: Our EuropeSharing the Futurein a Co
Page 13 and 14: 45International Petroleum Prices: 1
Page 15: PHOTOS: YIORGOS DEPOLLASSPRING 2003
Page 19 and 20: KILKIS SERRESPELLA 1020FLORINA231TH
Page 21 and 22: LUBRICANTSAegean and ChevronTexacoA
Page 23 and 24: Sales and AestheticsOn the UpswingT
Page 25 and 26: offer high-quality services. That i
Page 27 and 28: MARITIME TRADITIONSOcean linersThe
Page 29 and 30: 10Can an ambitious programto promot
Page 31 and 32: FORUMBilateral Trade RelationsHow i
Page 33 and 34: A look that saysTHE AEGEAN IMAGE“

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