China, Greece agree to push ahead with COSCO’s Piraeus Port Investment | PortandTerminal.com

“China and Greece agreed on Monday to push ahead with a 600 million euros ($660 million) investment by COSCO Shipping into Greece’s largest port, Piraeus, as part of efforts to boost its role as a hub in rapidly growing trade between Asia and Europe.

The agreement, part of 16 trade deals signed between Greece and China, came during an official visit by Chinese President Xi Jinping to Athens on Monday.

The two countries have drawn closer since 2009 when COSCO won a 35-year concession to upgrade and run container cargo piers in Piraeus. COSCO Shipping bought a majority 51% stake in Piraeus port in 2016.”

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