The Belt and Road News Network

The Belt and Road News Network

10 amazing Belt and Road Initiative projects (5)

      09:24, April 04, 2019

Piraeus Port, Greece

The Cosco Shipping Taurus docks at Piraeus on Feb 26, 2018. [Photo/Xinhua]

Piraeus Port is the largest port in Greece. On Aug 10, 2016, COSCO Shipping (Hong Kong) Co Ltd, a subsidiary of China COSCO Shipping Group, became a controlling shareholder of the port and started operating the facility.

Around 290 million euros are expected to be invested by the company for the expansion of a cruise terminal, improvement of a ship repair wharf and a new multi-storey garage of roll-on roll-off ship wharf.

The port, as an important meeting point of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, has become one of the fastest-growing container ports in the world in recent years.

Under the joint operation of Chinese and Greek enterprises, the port's infrastructure conditions and operational capabilities have been greatly improved. The freight hub has become increasingly prominent, not only providing more jobs, but also promoting local economic development and becoming a model of win-win cooperation under the Belt and Road Initiative.