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Greece agrees to sell Piraeus port controlling stake to COSCO


07-04-2016 19:27 BJT

Greece is becoming an important part of the China-proposed Belt and Road Initiative. This year marks the 10th anniversary of the establishment of a comprehensive strategic partnership between the two countries.

On Thursday, Greek lawmakers ratified a landmark concession agreement with China's COSCO Shipping. Under which, COSCO will pay 368 million euros to buy a 67 percent stake in the Piraeus Port Authority.

Supporters of the project say it will create more than 1.5 billion euros profit for the Greek economy and 125 thousand jobs by the middle of this century.

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