Cosco seeking more deals in Greece

Chinese shipping giant China Ocean Shipping (Group) Co (Cosco) is exploring more investment opportunities in Greece after successfully winning a container operation project at the Greek port of Piraeus, reported Xinhua News Agency, citing Cosco president and CEO Wei Jiafu.

Wei, currently on a visit in Athens, told Xinhua earlier this week that his trip is to examine the future of Cosco's investment in the biggest port of Greece and more opportunities for Chinese investments across the country.

Cosco took charge of Pier II and Pier III of Piraeus Container Terminals for 35 years last year. Cosco is planning to invest about US$687 million to upgrade the facilities of the two piers.
By 2015, the handling capacity of the port will be raised from 1.6 million TEUs to 3.7 million TEUs, the report said.

(Source: Cargo News Asia)