COSCO Shipping invests in Piraeus
By Zhong Nan | China Daily | Updated: 2016-07-07 08:06
China COSCO Shipping Co, the country's largest shipping company by fleet size, on Wednesday announced it will invest another 500 million euros ($553 million) in Greece's Piraeus Port after officially becoming the port's majority shareholder earlier this week.
Under the plan, COSCO Shipping will build a port to berth cruise liners and a large-scale passenger transport center that could contain up to 10,000 people, to diversify the port's business services.
It will become one of the world's largest cruise home-ports by both passenger capacity and service infrastructure.
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