A new “major” maritime hub is set to be established in Eleusis, Greece, with the support of the United States, Greek Development Minister Takis Theodorikakos said on Wednesday, November 19. The initiative is seen as targeting the Chinese shipping giant Cosco, which operates in Piraeus.
A bill providing for the creation of this major maritime hub in Eleusis, located 20 km west of Athens, will be submitted to the Greek Parliament for a vote on November 27, the minister announced.
A bill providing for the creation of a major maritime hub in Eleusis, 20 km west of Athens, will be submitted to the Greek Parliament for a vote on November 27, Greek Development Minister Takis Theodorikakos announced on Wednesday, November 19.
The expanded area around the Eleusis shipyards will be developed into a major growth hub, integrating port, commercial, transport, energy, and defense activities, the minister detailed to the Greek TV channel Ant1.
The plan includes the expansion of Onex shipyard activities in Eleusis, for which the U.S. Development Finance Corporation (DFC) issued a $125 million bond loan in 2023 (approximately €108 million), according to the minister. At the time, the DFC stated that the investment would allow the shipyard to accommodate up to 200 ships per year.
Supported by the United States, the initiative is seen as aiming to reduce the influence of Chinese company Cosco, which has controlled two-thirds of Piraeus since 2016. Athens had leased the two main container terminals of Piraeus to Cosco in 2008 for 35 years, before ceding a third terminal eight years later, until 2052.
China: The Only Support During the Crisis
In an interview with Ant1, the new U.S. ambassador to Greece, Kimberly Guilfoyle, described Cosco’s presence in Piraeus as unfortunate.
Greece respects past agreements, the Foreign Ministry spokesperson Lana Zochiou stated on Tuesday, November 18. The 67% sale of Piraeus port had occurred during the Greek economic crisis, and at the time, China was the only country to submit an offer.
Source: Le Marin
