ECONOMY

China’s ZTE to add a production unit to transit center in Greece

Chinese technological giant ZTE Corporation has reserved a key spot for Greece in its investment priority strategy, as its plans for the future include not only the creation of a transit center in Piraeus but also a production unit and repairs center, a high-level ZTE delegation informed Development Minister Costis Hatzidakis in Athens on Tuesday.

Through these investments, the Chinese telecommunications equipment and network solutions provider will seek to penetrate the European market further, offering cell phone appliances, tablets and other hardware at competitive prices.

The definitive investment plans of the world’s No 4 company in cell phone production and No 5 in telecom material production will be announced next month, as ZTE Corporation Chairman Hou Weigui is scheduled to come to Greece and visit Prime Minister Antonis Samaras on October 10.

Works for the construction of the ZTE Corporation transit center in Piraeus are expected to have started by the end of 2013, with the intention of starting operations next summer. It will serve the Balkans and Southeastern Europe at first and then North Africa.

Nowadays, ZTE products are supplied to the European market through the Dutch port of Rotterdam.

The transit center in Piraeus was included in the memorandum of cooperation the Greek premier signed in May during his visit to China.

ZTE’s vice president for Central and Eastern Europe, Chang Xiaowei, told Hatzidakis on Tuesday that the company has already drafted a project sustainability study and will immediately move ahead with the investment process. He noted that a series of other investments in Greece are also being considered. Chang further stated that ZTE views Greece as the gateway to Europe for its products.