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Cosco to invest extra 500 mln euros in Piraeus port

Cosco is planning additional investments of more than 500 million euros to the port of Piraeus, its president Hu Lirong told Prime Minister Alexis Tsipras during their meeting in Shanghai.

As he said, Cosco's main priority is investing in the sector of cruise as it has already been in contact with large international cruise companies that are seeking to make the Piraeus port their base.
He also announced the upgrade and expansion of the port so that it can host the largest cruise ship with 4,000 passengers. The aim of the company is to increase cruise tourists to 3 million. The budget of the investment amounts to 200 million euros. The second priority of Cosco is to upgrade the port infrastructure in the first container terminal.
Tsipras expressed his content over Cosco's investment plan and stressed that it is a milestone in the relations of both countries.