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China's COSCO raises stake in top Greek port Piraeus to 67%

Shipping giant says it aims to expand key foothold in Belt and Road initiative

Chinese President Xi Jinping, left, and Greek Prime Minister Kyriakos Mitsotakis visit the COSCO container terminal in Piraeus in November 2019.   © Reuters
SHIN WATANABE, Nikkei staff writer | China

DALIAN, China -- State-owned China COSCO Shipping, China's top maritime freight company, has lifted its stake in Greece's largest port to 67%, tightening control over an important link in the country's Belt and Road initiative.

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