Mitsotakis: Cosco in Piraeus port is a win-win project

Mitsotakis: Cosco in Piraeus port is a win-win project

China’s Cosco Shipping investment at Greece’s largest port is a win-win project which has transformed Piraeus into a successful port, Greek Prime Minister Kyriakos Mitsotakis said at the opening of an economic forum on Monday.

“It has been a good deal for Cosco, it has been a good deal for Greece… Piraeus has been transformed into a very successful port. We have made it very clear. We want to make it the largest port in the Mediterranean,” he said, referring to Sino-Greek collaboration in Piraeus in the past decade during a round-table discussion.

Cosco Shipping acquired the majority of Piraeus Port Authority SA (OLP) shares in 2016 after an international tender, while the Chinese company’s subsidiary, Piraeus Container Terminal SA, has managed the port’s container terminal since 2009.

The image of Piraeus has improved with impressive results posted in recent years, as work on the port’s upgrade and expansion continues.

“It is a natural entry point for goods into the Eastern and Central Mediterranean. We want to turn Greece into a logistics hub. You can’t argue with geography. It will always take eight to nine days less for ships from the Gulf or from the East, from East Asia, to reach Europe, so I am not willing to give up this opportunity for the country,” Mitsotakis added.


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