Chinese shipping giant COSCO on Friday said that the port in Piraeus, near Athens, achieved 12 percent turnover growth in 2019.
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COSCO bought a stake in the port in 2008 and expanded its ownership share to the present 51 per cent with a plan to increase it further through investing hundreds of millions of dollars.
The investment is a part of Beijing’s drive to push into European markets within its “New Silk Road’’ initiative, with Piraues one of the main gateways for Chinese goods.
According to the Greek financial press, Piraeus already emerged as the largest port for container transport in the Mediterranean and fourth in Europe with 5.65 million containers handled last year.
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