COSCO added a milestone for a new " Silk Road "

After the port of Piraeus, COSCO has just completed its first transaction in Turkey.

COSCO , the Chinese giant port operations , with a consortium of Chinese companies ( China Merchants Holdings, CIC Capital ) has acquired a majority stake (65% in the amount of USD 940 million ) in the container terminal " Kumport " port Ambarli .

The port is on the European side of the Marmara Sea about 35 kilometers from the Bosphorus Strait .The terminal can handle 1.84 million standard containers a year but could reach 3.5 million . Working together with the port of Piraeus ( Athens , Greece) in which COSCO also invested .

source : asia times