Strategic Piraeus is set to expand under investment from COSCO

As China and Europe are taking decisive measures to improve regional economic integration and goods flows, Piraeus Port is on track to become the biggest commercial port in the Mediterranean Sea Basin.

COSCO Pacific Ltd, a subsidiary of COSCO Group, the fifth-largest container terminal operator in the world, has invested 4.3 billion euros ($5.9 billion) on a 35-year management lease for the No 2 and No 3 piers in Piraeus Port, which it has been operating since June 2010.