Largest Port in Greece is Purchased by Chinese Central SOE on April 9, 2016

The largest port in Greece is purchased by a Chinese central SOE on April 9, 2016. [Photo/sasac.gov.cn]

Largest port in Greece is purchased by Chinese central SOE on April 9, 2016

China COSCO Shipping Corporation Limited purchased 67 percent of shares of the Port of Piraeus in Greece, the largest cooperation ever between China and Greece.

Piraeus is the largest port in Greece and one of the biggest in the Mediterranean region. It is also the closest to the Suez Canal among ports along the western coast.

It has become a transport hub for Chinese container vessels exporting goods from Asia to Europe and is an important pivot in the Mediterranean region along the 21st Century Maritime Silk Road.

It has shown one of the fastest rates of development in the world, with its container throughput soaring from 93th before the purchase to 36rd today.

(Executive editor: Li Shuling)