Piraeus port’s new managing director has set out his target for Greece’s biggest port to be placed among the world’s 30 largest container hubs.
Fu Cheng Qiu told Reuters that Cosco Shipping plans to increase container volume in Piraeus by 35% by 2018.
Cosco officially took over a majority stake in the container-focused port last month for EUR 280.5m ($315.5m).
“If we reach that level... Piraeus port would be among the world’s 30 largest container ports,” Fu said.
Cosco has pledged to make total investments of around EUR 300m in five years, largely focusing on ship repair and cruise operations.
The privatization of Piraeus was the most controversial deal in the years of crisis for Greece.
Labour unions have opposed the Cosco takeover as they feared job losses and wage cuts under the new administration.
Fu said: “Cosco is very careful and very serious about these issues and is handling them in line with the law.”
