ATHENS : Piraeus Port, Greece's biggest port which is majority owned by Chinese shipping group COSCO, said on Tuesday it had temporarily halted the upgrade of a cruise terminal, a key component of a major foreign investment, after a Greek court ruling.
PPA did not elaborate, but said the ruling caused the"temporary pausing" of construction work on the cruise terminal. COSCO bought a 51per cent stake in Piraeus Port under a 2016 privatisation deal and last year acquired an additional 16per cent stake, although it had not fulfilled a key condition of concluding mandatory investments worth about 294 million euros.
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