Shipping minister receives Chinese envoy; confidence that extra Cosco investments will begin immediately in Piraeus

Tuesday, 06 August 2019 22:16
UPD:22:16
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New Shipping Minister Yannis Plakiotakis on Tuesday afternoon received Chinese Ambassador to Greece Zhang Qiyue, with the latter underlining the importance that Beijing ascribes to the implementation of Cosco's master plan for the Piraeus Port Authority (PPA).  

Shanghai-based Cosco, a state-controlled shipping and port management multinational, has a majority stake in PPA and its management, via a 40-year concession that commenced in August 2016.

In fact, Zhang said Cosco's master plan for PPA is a crucial part of China's ambitious "Belt & Road" global trade and investment initiative.

On his part, Plakiotakis referred to the significance that the new Mitsotakis government places in terms of attracting foreign investments to the country, while adding, specifically, that he believes the additional Cosco investments at PPA (new hotels, cruise ship terminal, shopping mall) will begin immediately.  

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