After Cosco’s much publicized investment in Piraeus, China’s macroeconomic management agency, the National Development and Reform Commission (NDRC), is promoting new investments in western Attica, primarily in the port of Elefsina.
NDRC’s official agenda of talks with the Greek government includes the prospect of a Chinese investment at Elefsina port, the participation of a Chinese group in the construction of new infrastructure planned for the port and the upgrading of the rail link “so as to release the full potential of the port of Elefsina.” It also includes the development of local and possibly international supply chain hubs.
The port industry has been aware of the Chinese interest for some time, with research being conducted into new areas for the expansion of Cosco’s shipping and port activities in the region, particularly related to dry-bulk cargo, an area in which Piraeus Port Authority does not currently have a presence. This interest is also related to the planned expansion of the shipbuilding and repair industry.
Developments are speeding up now as state sell-off fund TAIPED is promoting the utilization of the 10 regional ports in its portfolio with the hiring of consultants, while the vice president of NDRC visited Athens last month to discuss bilateral cooperation.