China’s Giant Huawei Invests in Greece’s Piraeus Port
Chinese technology and communication major Huawei has inaugurated a pilot distribution center at Piraeus port, which they say is another significant step to enhance co-operation between the two countries.
The new distribution center is located at the premises of Chinese multinational shipping conglomerate Cosco's subsidiary Piraeus Container Terminal SA (PCT) and will enable Huawei to distribute its products to European markets through Greece.
In 2012, Huawei’s turnover amounted to some US$ 35.4-billion, 66 percent of which came from sales outside China. In the first half of 2013 the group's revenue stood at 18.5 billion dollars, representing a 10.8-percent year-on-year increase.
"The Huawei distribution center strengthens Piraeus and Greece's position on the global transportation map," Development and Competitiveness Minister Kostis Hatzidakis said during the opening ceremony, which was also attended by Shipping Minister Miltiadis Varvitsiotis.
With a capacity to handle more than 4 million TEUs per year, PCT has become an important partner for the strategic goals of Huawei, as well as for other multinational giants.
PCT launched operations in the country at Pier II at Piraeus port in 2009 with a plan to turn it into a leading container terminal in the Mediterranean Sea region and say that ever since it has posted remarkable results.