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            december 09, 2019

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Greece plans to resume talks with China


Greece plans to resume talks with China on developing a fourth Chinese-operated container terminal at the port of Piraeus. The agreement follows a meeting between Chinese President Xi Jinping and Greek Prime Minister Kyriakos Mitsotakis in Athens earlier this month.
Greece's Port Planning and Development Committee recently granted approval for almost all of a port-wide investment plan submitted by the Chinese-controlled Piraeus Port Authority (PPA). To PPA's disappointment, the committee did not approve a fourth container terminal, which would have raised Piraeus' total annual container handling capacity from the current seven million TEU to 10 million TEU.
In a statement announcing its decision, the committee noted that "the conditions at this stage are not ripe for the implementation" of another container facility, reported The Maritime Executive, Fort Lauderdale, Florida.
China Cosco Shipping purchased a 51 per cent stake in PPA in 2016. Under Chinese management, the port's container volumes and profitability have both expanded, and it is now the third-busiest container port in the Mediterranean.
Chinese President Xi Jinping arrived in Athens on November 12 for a state visit, during which time he accompanied Prime Minister Mitsotakis on a tour of the port's facilities. "We want to strengthen Piraeus' transshipment role and further boost the throughput capacity of China's fast sea-land link with Europe"" Mr Xi said following their meeting.

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