Chinese investments at the port of Piraeus, the largest in Greece, could generated up to 5.1 billion euros yearly in turnover for the Greek economy and create up to 125,000 new jobs through 2018, a report by the Bank of Greece’s governor stated on Friday.
Conversely, the same report warns that the possible abolition of a favored tax status in the all-important shipping sector could force many Greek firms to transfer to overseas headquarters.
Chinese multinational Cosco was recently declared the winner of an international tender to assume 67 percent of the Piraeus Port Authority.
