Chinese companies interested in Greek plan to sell assets (2)

Land development projects account for 55 percent of the entire portfolio, whereas the gaming, banking and energy industries help improve the attractiveness of the assets.

The proposal has garnered interests from 50 high-profile companies in China.

Chinese shipping giant COSCO Group has a successful presence in Greece, where it has already run various parts of Greece's largest port, Piraeus Port, for more than two years.

"This is a successful story for both China and Greece. They have been making profits and creating jobs for Greece," said Kourkoulas, adding that COSCO is planning to double or triple its investment in the next year.

Shanghai International Group is seeking opportunities in Greece under the newly established $2-billion Shanghai International Global Acquisition Fund, said Cheng Baoliang, head of the fund.

Cheng found certain business opportunities in Greece highly complementary to the company's ongoing projects in Shanghai, and it has expressed an interest in Greece's tourism and resource sectors.

Shanghai-based Fosun Group, a leading private conglomerate, plans to enter Greece's food and consumer sector, after acquiring a 13.4 percent stake in Greek jewelry and accessories maker Folli Follie Group last year.

Contact the writers at hewei@chinadaily.com.cn and zhengyangpeng@chinadaily.com.cn

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