Piraeus, Greece (PortSEurope) February 11, 2021 – Speaking by teleconference to the so-called “17+1 summit” organized by China and including leaders from 17 countries in Central and Eastern Europe, Greek Prime Minister Kyriakos Mitsotakis described the country’s as a “win-win” sitiation. “The port has become an important hub for the fast land and sea connection between China and Europe and for the connection between Asia
and Europe,” said Chinese President Xi Jinping, adding that Beijing is “ready to work along with Greece and other parties to further cooperation” within the 17+1. In 2016, COSCO and the Greek government signed a privatisation deal with the Chinese company acquiring 51% of Piraeus Port Authority S.A. (PPA). Subject to pre-define investments, COSCO would increase the holding to 67%. In November last year, COSCO said that a lack of support was preventing it achieving this aim, saying that the Municipality of Piraeus was not cooperating and that European Union subsidies were not forthcoming. This has delayed the construction of a €104 million ($126 million) cruise ship hub. City officials have countered by saying that the company has not submitted an environmental impact study for its strategic master plan. The comments by the Greek prime minister are seen as strong government support for COSCO investment in the port. Copyright (C) PortSEurope. All Rights Reserved. 2021.
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