Li congratulates COSCO pier expansion project in Greece

BEIJING - Chinese Premier Li Keqiang on Thursday congratulated the inauguration of the project of expansion of Pier III of the COSCO Container Terminal at the Greek port of Piraeus, saying it is a paradigm of mutually beneficial cooperation between China and Greece.

Currently, China and Greece have seen a comprehensive and rapid development in their relations, and mutual political trust between the two countries are increasingly firm, Li said in his congratulatory message for the inauguration of the expansion project involving the China Ocean Shipping (Group) Company (COSCO).

Pragmatic cooperation between China and Greece is unceasingly reaping achievements, among which the mutually beneficial and win-win cooperation between the two countries at the Piraeus port is in the interest of the two peoples, said Li.

The Chinese premier expressed the hope that the two sides could join hands to build the Piraeus port into a first-rate port and important pivot in the Mediterranean Sea region, thus to speed up the construction of the China-Europe Land-Sea Express Line to constantly advance pragmatic cooperation between the two countries and bring more benefits to the two countries and the two peoples.

At the groundbreaking ceremony of the expansion project, Greek Prime Minister Antonis Samaras said that COSCO's investment in the Piraeus port has become a successful example for Greece to attract foreign investment.

Since 2008, the Piraeus port has grown rapidly and turned into the fastest-growing container port in the world as well as the most dynamic port in Europe, which has vigorously boosted Greece's economic development and created numerous jobs, said Samaras.

The Greek prime minister wishes the port would make greater success.

The Piraeus Container Terminal (PCT), a subsidiary of Chinese shipping giant COSCO, launched operations in Greece at Pier II in 2009, with a plan to turn Piraeus port into a leading container terminal in the Mediterranean Sea region, and ever since has also built Pier III and posted remarkable results.

Commercial traffic through the port has multiplied by eight times since COSCO's arrival. Piraeus was the fastest-growing port worldwide in 2012 and 2013 and the fastest-growing in Europe in 2014.

Pier III became operational in July 2013. The expansion of Pier III ,which was signed a few months ago between PCT and Piraeus Port Authority (OLP), opens the way for the construction of a new Oil Product Pier.