China COSCO plans to turn Greece Piraeus port into the biggest commercial harbor in Europe
China COSCO plans to turn Greece Piraeus port into the biggest commercial harbor in Europe
China, Greece agree to push ahead with COSCO’s Piraeus Port investment
ATHENS (Reuters) – China and Greece agreed on Monday to push ahead with a 600 million euros 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.
COSCO plans to turn Piraeus port into the biggest commercial harbor in Europe, spending about 600 million euros ($660 million) to boost operations, including mandatory investments of 300 million euros by 2022 which once concluded will allow it to acquire an additional 16% stake in the port.
![[South America] [Latin America] Chinese investment](https://www.wautom.com/wp-content/uploads/2019/04/la-200x120.jpg "[South America] [Latin America] Chinese investment")
Chinese President Xi Jinping and Greek Prime Minister Kyriakos Mitsotakis visit the container terminal of China Ocean Shipping Company (COSCO), in Piraeus, Greece November 11, 2019.