Cosco injects USD 620 million into major Greek port

Cosco will expand the Greek port Piraeus for USD 620 million and at the same time create the largest yard facility in the Eastern Mediterranian.

Photo: Thanassis Stavrakis/AP/Polfoto

China's Cosco will create the largest yard in the Eastern Mediterranean, which should be able to handle 450 vessels annually and focuses particularly on major cruise vessels.

This is according to the port authorities during a presentation of the development of the busy Greek port until 2021, which the Chinese group took over in 2016. To make the new plans a reality, Cosco will invest USD 620 million in the port, reports Seatrade Maritime.

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