ECONOMY

Sinotrans plans logistics project

sinotrans-plans-logistics-project

The Foreign Ministry is said to be locked in talks with the investment partner of Chinese group Sinotrans on the implementation of a major investment plan in the logistics sector.

The strategic partner of Sinotrans, Elephant Alliance, has expressed an interest to the Greek side about a project in the Thriasio Plain in western Attica that is managed mainly by the ministry’s General Secretariat for International Financial Relations.

The plan concerns the development of a modern logistics center in the pattern of “smart cities,” promoted in the context of Chinese-European economic and business cooperation. These are high-technology and innovation complexes that focus on specific or combined sectors of economic activity.

Well-informed diplomatic sources in Beijing say this particular plan focuses on logistics. The issue surfaced after the progress made in contacts with the Greek side and ahead of the upcoming tenders for the majority stake in Piraeus Port Authority and for the Thriasio Freight Center. Sinotrans is said to be considering the development of its project within the plot of 600,000 square meters even if fellow Chinese company Cosco misses out on the Thriasio tender.