Independent journal on economy and transport policy
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ulterior Chinese group COSCOCS confirmation investments for 500 million euros in the port of the Pireo
Encounter between the president of the Chinese company and the Greek Prime Minister Alexis Tsipras
July 6, 2016
Today to Shanghai, in occasion of the visit of the Greek Prime Minister Alexis Tsipras to the headquarters of China COSCO Shipping Corporation (COSCOCS), been born at the beginning of this year from the fusion of groups COSCO and Lowers Shipping, the president of the Chinese company, Xu Lirong, has confirmed that ulterior the shipowning group will invest 500 million euros in order to develop the port of the Pireo, in which group COSCO is already anticipates from the 2009 through the branch terminalista Piraeus Container Terminal (PCT) and of which now has obtained the management acquiring the control of the Harbour Authority of the Pireo ( on 5 July 2016). Such investments will join to those for 350 million euros previewed from the Share Purchase Agreement for the transfer of the control of the Piraeus Port Authority from the Greek State to the Chinese group.
Lirong has specified that investments in the crocieristico field will be realized in order to allow with the Greek port, than last year has enlivened 980.149 million crocieristi, to increase the traffic to three million passengers. But investments will be realized also in the fields of the constructions and naval repairs, of handling of car, with the scope to make of the port of the Pireo main the hub for the traffic of the motor vehicles of the Mediterranean, and handling of the container, with the objective to raise the containerized trade volume, than in 2015 it has been pairs to 3,3 million teu, in order to carry it to seven million teu and arriving successively to ten million teu per year.
Lirong has emphasized that these investments will allow to create in Greece job 31.000 places and to raise the value produced in the Country from the field of the logistics from current 400 million euros to 2,5 billion euros.
From part its Tsipras has confirmed that the Greek government has the absolute will to promote better and a more fast performance of the agreement with the Chinese group, that can be of model for the China-EU cooperation.
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Today to Shanghai, in occasion of the visit of the Greek Prime Minister Alexis Tsipras to the headquarters of China COSCO Shipping Corporation (COSCOCS), been born at the beginning of this year from the fusion of groups COSCO and Lowers Shipping, the president of the Chinese company, Xu Lirong, has confirmed that ulterior the shipowning group will invest 500 million euros in order to develop the port of the Pireo, in which group COSCO is already anticipates from the 2009 through the branch terminalista Piraeus Container Terminal (PCT) and of which now has obtained the management acquiring the control of the Harbour Authority of the Pireo 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
