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Cosco

China’s COSCO Plans to Make Piraeus the Largest Port in Europe

China's Cosco Group shipping giant plans to invest around $1 billion in Greece’s Port of Piraeus to help turn the ancient harbor into a main entry point for Chinese exports to Europe. The new investment comes on the heels of...

Greek PM Vows to Make Piraeus Largest Port in Europe in Visit to Cosco HQ (video)

Greek Prime Minister Kyriakos Mitsotakis visited the headquarters of the Chinese shipping giant Cosco in Shanghai on Monday, where he declared that their common goal "is to make Piraeus Port the largest port in Europe." Mitsotakis, who was accompanied by...

Kick-Starting Stalled Investments Will Give Much-Needed Boost to Greek Economy

Greece’s financial crisis is still affecting the hopes and dreams of the people that live in the country, as it has been in economic turmoil for most of the last decade. Greece’s GDP shrunk 26% in the span of eight...

Cosco's Piraeus Investment Plan to Be Resubmitted for Approval

China’s Cosco shipping consortium is expected in the coming days to re-submit its multi-million-euro investment plan for Piraeus to the country's Committee of Planning and Development of Ports. The submission will include the company's comments on the previous report issued by...

Greece Approves Chinese Conglomerate Cosco's Plan for Luxury Hotels in Piraeus

The Greek government gave the green light on Thursday to the Chinese conglomerate Cosco to convert three buildings at the Piraeus port into luxury hotels. The Greek Culture Ministry's Central Council for Modern Monuments unanimously approved the Piraeus Port Authority's...

Geostrategic Powerplay Hinders Massive Chinese Investment in Greece

The decision recently taken by Greece's Central Archaeological Council (KAS) to declare a large part of Piraeus a site of archaeological interest is putting up barriers on a 600-million-euro investment by China's Cosco shipping giant. The Chinese government has shown...

Greece's Port of Piraeus Records Stunning 147% Increase in Profits for 2018

The Piraeus Port Authority (OLP) announced on Friday that the company's net profit for 2018 was 147 percent higher than what it had earned in 2017. The Authority noted in a statement that its profits before tax amounted €42.3 million...

Cosco's Investment Plan for Piraeus Under Threat

The Piraeus Port Authority (PPA) will make a last-ditch attempt on March 10 to convince the Greek government to unblock the 580-million-euro ($650 million-dollar) investment program by China's Cosco Shipping consortium. A government commission had nixed the Port Authority management's investment...

Port of Piraeus Hosts Its Largest Ship Ever (video)

The largest container ship which has ever docked in Piraeus arrived in Greece's largest port on Monday. The behemoth belongs to the Chinese conglomerate COSCO. The COSCO Shipping Line's "Nebula" was delivered to its owners in October of 2018. It can carry more...

Chinese Purchased €258 Mln of Greek Residential Real Estate in 2017

Mainland Chinese purchased at least €258 million (U.S. $300 million) of Greek residential real estate in 2017, according to a report by Juwai, a Chinese international real estate company. The company estimates that in 2018 investment could be even higher...