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Hu Jintao on hand for Cosco's Piraeus port signing

Athens: The president of China, Hu Jintao, who is midway through a three day visit to Greece, will today join Cosco ceo Wei Jiafu for the signing of a 4.35-billion-euro (5.5 billion-dollar) deal for the 35-year concession of terminals 2 and 3 at Piraeus, Greece's busiest port.
Cosco intends to use the foothold in the Mediterranean as a key southeast Europe hub and the deal is the most it has ever shelled out for a terminal.
In an interview with Greek media yesterday Capt Wei remained defiant that the shipping industry would pick up considerably next year.  [25/11/08]

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