Piraeus Port

Piraeus
Greece’s biggest port was an obvious target when the country fell into depression, while there was anger at such an important asset (Greece is heavily dependent on shipping representing around 7% of employment and GDP) being privatised and falling into foreign hands, the country’s desperate need for cash and fresh investment made it difficult to resist.

The Chinese China Ocean Shipping Group – (Cosco) brought a stake and made fresh investment worth around €1 billion. Cosco for their part promised a new start and the renewal of a logistics hub that would help connect Eastern Europe by rail and Asia by sea.

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