China Targets Cypriot Ports

In a bid to transform the island into a regional shipping hub, Wang Yi, Foreign Minister for China, has said that his country is interested in the operational running of Cypriot ports, according to Yahoo News.

As well as operating ports, Wang Yi added that his country is also interested in developing industrial zones around the ports.

Tenders were issued in early 2015 for the operation of its largest port in Limassol.

China’s presence in Greece is noted through Chinese shipping company Cosco’s concession to operate two container terminals at the Port of Piraeus.

It was previously reported that Shanghai International Port group has also been eyeing European assets, after expressing an interest to operate a number of ports in Europe.

China appears to be especially cognizant in its approach to investments, due to its One Belt, One Road initiative for connecting maritime trade between Europe and Asian countries.

It recently struck a deal with Malaysia for two port collaboration projects, which aim to support the One Belt, One Road initiative.