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COSCO faces backlash as it moves to tighten grip on Greek port

Chinese conglomerate has made Piraeus the Mediterranean's busiest sea freight hub

Chinese President Xi Jinping, left, with Greek Prime Minister Kyriakos Mitsotakis at COSCO’s freight terminal in Piraeus in November 2019.   © Reuters

HAMBURG, Germany/ATHENS -- Global conglomerate China COSCO Shipping is gearing up for a fight as it seeks to tighten its grip over the Greek port of Piraeus, the once-sleepy harbor that it has turned into the Mediterranean's busiest hub for sea freight.

COSCO, which has invested hundreds of millions of dollars into Piraeus since first responding to an appeal for support from Greece in 2008 amid the global financial crisis, is now working to bring cruise ships and trains to the port and expand its offerings there into shipbuilding and repairs.

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