Chinese President Xi Jinping visited Greek Prime Minister Kyriakos Mitsotakis on Monday in Athens and the two leaders signed 16 trade agreements. According to our (Viewers Corner News) correspondent in Athens, part of 16 trade deals China and Greece signed is for COSCO Shipping to push ahead with a 600 million euros investment into Greece’s largest port (Piraeus). Since 2009 that COSCO won a 35-year concession to upgrade and run container cargo piers in Piraeus, the two countries have become closer. In 2016, COSCO Shipping bought a majority 51% stake in Piraeus port and it (COSCO) plans to turn Piraeus to a biggest port in Europe. The European Investment Bank (EIB) also agreed to extend a 140 million euro ($154 million) loan to help COSCO with its investment plan in Piraeus. President Xi Jinping stated that China wants to expand its investments in the energy, transportation and banking sectors. On Monday, China’s State Grid which holds a minority stake in Greece’s power grid operator (ADMIE) expressed interest to take part in ADMIE’s one billion euro scheme to build an undersea power cable to link the island of Crete to the mainland by 2023.
Source: Viewers Corner News.