Chinese government-owned shipping and logistics giant COSCO is expected to complete the purchase of a controlling stake in Piraeus Port as it continues to take advantage of Greece’s privatisation programme.
Speaking at a conference in Athens, China’s ambassador to Greece Zou Xiaoli urged Chinese companies to explore further opportunities to invest in the beleaguered Mediterranean nation, which, as a condition of its bailout programme, is auctioning any saleable assets that remain in public control.
China views Greece as being a potential logistical hub, as it seeks to boost trade into Europe. Piraeus, being one of Europe’s largest passenger ports and the largest container port in the Eastern Mediterranean, is at the heart of its plans. Continue reading