Feature: Local community embraces China's investments at Piraeus port

After the sale of the 67 percent shares stake in state-owned Piraeus Port Authority (PPA) to China COSCO Shipping Corporation earlier this April, local community envisages multiple benefits for growth and job opportunities that could help Greece exit the six-year recession.

A delegation of Greek mayors of cities around the port of Piraeus had the opportunity to take a tour at the premises of the Chinese-managed part of Piraeus port on Wednesday at the invitation of China COSCO Shipping's subsidiary Piraeus Port Terminal (PCT) and the Chinese embassy to Greece.

Speaking to Xinhua the Greek officials expressed their delight regarding the contribution of the major investment to the local and national economy.

"A major investment is being developed at PCT, which we hope will benefit both our national and local economy," the mayor of Salamina, Isidora Nannou-Papathanasiou told Xinhua.

The results of the first six years of PCT's operation at Piraeus are already impressive. In 2010, PCT handled about 680,000 TEUs of cargo and in 2015 it has reached 3.04 million TEUs of cargo, PCT CEO Captain Fu Chengqiu told the mayors.

In addition, more than 2,000 jobs have been created in the local level, while taxes and pay rolls attributed to the Greek government and employees have reached up to 500 million euros (567 million U.S. dollars).

PCT's investment in infrastructure and equipment exceeds 360 million euros, according to the data presented by Fu.

Regarding the acquisition of the majority stake of PPA and the management of the port, Fu asked for the support and contribution of all parts, including municipalities and citizens.

"PCT's success story does not only concern China, but Greece as well. The same we hope will happen for PPA. Today is the beginning of a future cooperation that will be based upon the harmonious co-existence of both parts," Fu said.

"Our goal is to reconstruct the shipbuilding sector and bring prosperity into the region," he added.

From his part, the Mayor of the Municipality of Piraeus, Yannis Moralis, pointed out that the port and the cities must be aligned.

"The integration of the deal can bring major benefits to our cities, as long as there is an honest bilateral relation between the management of the port which now is under the Chinese management and the municipality of Piraeus," Moralis said.

"We need to ensure that our cities would receive in return equal benefits as they bear the burden of the port due to its size," he added.

Mayor of Megara, Grigoris Stamoulis, who was among the Greek mayors who visited China and the facilities of China COSCO Shipping, at Qingdao port last November, expressed his hope Piraeus will reach the levels of Qingdao in terms of capacity and mobility in the future.

Addressing the mayors, Fu unfolded COSCO Shipping's vision to turn Piraeus into a leading international transit hub.

"We guard the port like crown jewels. We do everything within our powers to protect it. I will be thrilled if PCT can reach the equivalent levels of Qingdao, but I can assure you that it is not impossible," Fu said.

Among the points raised during the visit at PCT were the investments Greece needs to attract especially from China.

"There are many Chinese companies that can invest in our country. Greece is concerned as the new Silk Road, with Piraeus being the shortest port to Europe. We need to work towards that direction to attract more investments," the mayor of Aspropyrgos Nikos Meletiou told Xinhua.

Referring to investments, Chinese ambassador to Greece Zou Xiaoli said that dozens of Chinese delegations from different sectors, including commerce, shipbuilding, tourism and culture, will visit Athens in the coming months.

"As Greek Prime Minister Alexis Tsipras has called Piraeus port project the 'dragon's head,' now we can assure you that the body will follow with China's efforts to build a network of investments," Zou said.

Cooperation will develop in multiple levels, the ambassador stressed. He announced a program to grant scholarships for studies in China to students from the neighboring cities of Piraeus port. Endit