Belt and Road project

Greece was one of the first European Union countries to sign Belt and Road documents with China, and the Mediterranean nation has worked together with China to build the Port of Piraeus into a flagship Belt and Road project.

Piraeus Port is the largest port in Greece. On Aug 10, 2016, COSCO Shipping (Hong Kong) Co Ltd, a subsidiary of China COSCO Shipping Group, became a controlling shareholder of the port and started operating the facility.

Since COSCO Shipping's participation into the privatization of the port in 2009, the group contributes 300 million euros ($336.9 million) to the local economy on an annual basis, and has created more than 3,100 job opportunities along with more than 10,000 new posts brought about indirectly.