Greek PM invites further Chinese investment

Greek Prime Minister Antonis Samaras on Wednesday attended the inauguration ceremony of new port facilities run by a subsidiary of Chinese shipping conglomerate COSCO, saying his country welcomes more investment from China.

"The answer to the crisis, regardless of its intensity, is investment," Samaras said after cutting the ribbon with COSCO Group President Wei Jiafu for the launch of testing operations of the Pier III facilities at the country's main Piraeus port.

Calling Wei "a true friend of Greece," he said his country is looking forward to more Chinese investment in various sectors.

"Greece can, and I say that it will be the gate of commerce between China and Europe. From the port of Piraeus we started our first cooperation. We invite you to join more successful cooperation in other sectors, like transportation, trains, ports and shipyards," Samaras said.

He added that during his official visit to China in May, he reaffirmed the great potential of further enhancement of bilateral ties and China's role in Greece's growth prospects.

Piraeus Container Terminal, the COSCO subsidiary that runs the port facilities, launched operations in Greece at Pier II at Piraeus port in 2009, with a plan to turn it into the leading container terminal in the Mediterranean Sea region, and ever since has built Pier III and posted remarkable results.

Pier III will be fully operational after the installation of another two super-post Panamax type cranes as of July 1, much sooner than 2016 as initially anticipated under a contract for the concession of the management of part of Piraeus port facilities to PCT.

Addressing the inauguration ceremony, Wei said his company wants to invest more in Pier III to expand the port's capacity.

"We want to turn Piraeus into the top port in the Mediterranean and Europe," he said.