Cosco to extend investment at Greek port

Beijing: Cosco subsidiary Piraeus Container Terminal (PCT) has inked an agreement with Piraeus Port Organization for an additional investment of EUR230m at Greece’s largest port, Piraeus.

The total Cosco investment in the port will reach EUR500m and Piraeus will have the capacity to handle up to 6.2m teu per year in the coming years.

"The agreement seals the transition of the port of Piraeus into a new era, as this is the largest investment in crisis-stricken Greece,” Greek Shipping Minister Miltiades Varvitsiotis said on Tuesday. [13/11/13]

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