Cosco Plans More Investments in Piraeus as It Gets Port Control



Piraeus Port“We will continue the investments in Piraeus port” said Cosco’s general director Wan Min on Wednesday at the opening of Athens Stock Exchange (ASE) session on the occasion of the transfer of 51 percent of Piraeus Port Authority (OLP) shares to the Chinese giant.

“We will improve the port’s international position with aim to contribute in the development of the Greek economy, the strengthening of competitiveness and the creation of job positions” said Wan Min adding that the acquisition of OLP and Cosco’s activity in Piraeus constitutes one of the most important international projects implemented by the Chinese group.

On his part Hellenic Republic Asset Development Fund (HRADF) Stergios Pitsiorlas wished this day to mark the Greek economy’s turn to growth and expressed the hope Piraeus to become the larger port in the Mediterranean with Cosco’s active participation.

In the opening of ASE’s session the majority of OLP shares passed to Cosco. A total of 12,750,000 shares were sold for 22 euros per share, totaling 280, 5 million euros.
(Source: ANA-MPA)