Greek-Chinese chamber expresses concern over obstacles placed before Cosco’s invsetment plan for Piraeus port

10 April 2019
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A chamber of Greek-Chinese economic cooperation on Tuesday expressed its concerns over what it called the recent “negative developments” regarding the future of a 600-million-euro investment plan by the Cosco-managed Piraeus Port Authority (PPA).

The chamber referred directly to the unprecedented declaration of roughly half of the port authority – as well as two-fifths of the entire municipality of Piraeus – as an area of archeological interest. Such a designation, among others, means much stricter building codes and land uses.

Moreover, the announcement reminds of a recent signing of a multi-billion contract between China and Italy for the management of four Italian ports by Chinese companies, with Cosco announcing the assumption of the port of Trieste a day earlier.

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