Piraeus Psara, but it was not until 1829 that permanent habitation of the area was restarted. Piraeus at first developed into a small town with few dwellings, far from its glorious past as a prosperous city, with its population consisting largely of fishermen. With the creation of the modern Greek state and the proclamation of Athens as its capital in 1832, the port, still named Πόρτο Λεόνε 'Porto Leone' or Πόρτο Δράκο 'Porto Draco', again acquired a reason for growth, and began to develop into a commercial and industrial centre. Migrants, mainly from the Aegean Islands, continued to arrive. A town
Port of Piraeus the Greek government-debt crisis started in late 2009 the Greek government planned to privatize several state-owned assets. These assets are believed to be worth around 50 billion euros. One of these assets is the port of Piraeus. In October 2009 Greece leased docks 2 and 3 from PPA to the China Ocean Shipping (Group) Company (in short: COSCO) for a 35-year-period. For its presence at the port COSCO is paying 100 million euros every year. Terminal 1 is operated by PPA S.A. and has a capacity of nearly 1 million TEUs. Terminal 2's capacity is 3 million TEUs and is