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Beijing - China plans to invest billions of euros in shipping, logistics and airport projects in Greece, as the European nation battles to slash its massive debt, a report said Tuesday.
The investment deals are due to be signed on Tuesday during a visit to Athens by Chinese Vice-Premier Zhang Dejiang, the Financial Times reported, citing an unnamed Greek government official.
"These concern maritime affairs, telecoms and a project to renovate a landmark tower building in Athens' port of Piraeus," the official was quoted as saying.
Other deals including shipbuilding agreements worth €500m will also be signed, the report said.
Athens is seeking to attract investment from countries with massive sovereign wealth funds - such as China - in an effort to stimulate economic growth in its debt-laden economy.
Greece's abundant port facilities, the quality of its world-leading merchant fleet and its strategic location as a gateway into the Balkans and Europe have drawn interest from Chinese global commercial giant Cosco.
The Chinese company last year signed with Greece a 35-year concession to expand the two main container terminals at the main Greek port of Piraeus for a guaranteed premium of €3.4bn.
"Cosco has a major plan to build the port of Piraeus into the greatest container hub in the Eastern Mediterranean area, and we will create a logistics centre in Piraeus," Cosco chief executive Wei Jiafu told reporters last month.
Greek transport minister Dimitris Reppas said in May that Chinese companies could be interested in involvement in the privatisation of Greece's heavily indebted railway OSE.
The European Union and the International Monetary Fund have given Greece a €110bn bailout package over three years to tackle the fiscal crisis, which has spilled over into eurozone countries such as Spain and Portugal.
Moody's ratings agency on Monday slashed its sovereign rating for Greece to "junk" status, a move rejected by Athens, which said it had taken significant steps to balance its books.
- AFP
