Cosco signs deal with Greek port

ATHENS: Cosco Pacific Ltd's agreement to take over the container operations at Greece's biggest port will enable China and Greece to boost cooperation, particularly in the maritime field, visiting President Hu Jintao said on Tuesday.

Under the agreement, Asia's third-biggest container-terminal operator will receive a 35-year concession to operate and manage two container terminals at Greece's main port of Piraeus.

The deal worth 831.2 million euros ($1 billion) was signed after Hu met Greek Prime Minister Costas Karamanlis for talks on the second day of an official visit to Greece.