BRI a pillar of support in Sino-Greek partnership

Impact extended

Zhang said COSCO's operations have directly engaged over 3,000 employees within the port. Considering the broader supply chain, the port's impact extends to generating more than 10,000 employment opportunities in the vicinity, spanning industries that provide services to the port, he added.

Savvas Sanozidis, secretary of the board of directors, Piraeus Port Authority, said: "Without COSCO's presence in the Piraeus Port, Piraeus Port could be out of the global maritime map."

The 2009 Greek debt crisis had far-reaching effects, extending its impact to all sectors, including the port business. Sanozidis recalled that period, mentioning how the crisis hindered further investments.

The strategic investments by COSCO, starting in 2009 and then again in 2016, carried significant weight, especially given the prevailing crisis, according to Sanozidis. "It was a vote for the Greek economy, a vote of trust. These investments represented the largest foreign influx of capital during that period," he added.

Sanozidis said: "Without COSCO's presence, no investments of such level could take place in our port. This includes attracting major clients in various sectors such as ferry, cruise, car terminals, and container terminals. We had outdated equipment, but COSCO's arrival prompted us to invest in modern equipment and upgrade our infrastructure."