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Chinese telecom giant ZTE sets up transit centre at Cosco's Pireaus port
CHINESE multinational telecom facilities manufacturing giant ZTE has signed an agreement with Cosco on establishment of a European transit centre at the port of Piraeus in Greece, Xinhua reports.
According to the agreement, signed in the presence of Prime Minister Antonis Samaras, ZTE will use Cosco's Piraeus Container Terminal (PCT) as a distribution hub for its products in the European market, which covers 12 countries of Croatia, Czech Republic, Slovakia, Slovenia, Austria, Hungary, Bulgaria, Romania, Italy, Spain, Portugal and Cyprus.
A report from GREECE.com said the ZTE logistics centre will later be developed into a light manufacturing plant for the repair of products.
Mr Samaras said "Piraeus is a vehicle for strong growth for the whole of Greece. It is a main gateway, an international transit node, now linked with the country's railroad infrastructure and therefore with eastern and central Europe."
Mr Samaras not only hailed the signing of an agreement between ZTE and Cosco, "two colossal companies that effectively utilise this infrastructure and are successfully active within this novel framework of trust and stability that we are building today in Greece," but also noted that the specific agreement is the first phase of a long-term investment that is expected to create around 600 job positions by its completion.
Cosco obtained the concession of PCT and commenced operation in 2009. Over the past few years, PCT's box throughput grew from 685,000 TEU in 2010 to 2.52 million TEU in 2013
According to the agreement, signed in the presence of Prime Minister Antonis Samaras, ZTE will use Cosco's Piraeus Container Terminal (PCT) as a distribution hub for its products in the European market, which covers 12 countries of Croatia, Czech Republic, Slovakia, Slovenia, Austria, Hungary, Bulgaria, Romania, Italy, Spain, Portugal and Cyprus.
A report from GREECE.com said the ZTE logistics centre will later be developed into a light manufacturing plant for the repair of products.
Mr Samaras said "Piraeus is a vehicle for strong growth for the whole of Greece. It is a main gateway, an international transit node, now linked with the country's railroad infrastructure and therefore with eastern and central Europe."
Mr Samaras not only hailed the signing of an agreement between ZTE and Cosco, "two colossal companies that effectively utilise this infrastructure and are successfully active within this novel framework of trust and stability that we are building today in Greece," but also noted that the specific agreement is the first phase of a long-term investment that is expected to create around 600 job positions by its completion.
Cosco obtained the concession of PCT and commenced operation in 2009. Over the past few years, PCT's box throughput grew from 685,000 TEU in 2010 to 2.52 million TEU in 2013
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