Cosco in Talks with Greece on Piraeus Port Deal

Greece is in advanced discussions with China's Cosco to boost their cooperation in the country's biggest port Piraeus, the Greek defence minister said on Friday.

Cosco, which currently manages two container piers at Piraeus Port, is also interested in acquiring a majority stake. Athens has put the port up for sale.

"We are in very advanced talks to expand this cooperation very soon in relation with the inclusion of a railway network as well," Defence Minister Panos Kammenos told an economic conference in Athens.

Kammenos is the leader of the junior partner in the country's leftist-led government.

Greece unblocked the sale of a 51 percent stake in Piraeus port and has invited Cosco and two other shortlisted investors to submit binding bids by September.

Reporting by Angeliki Koutantou