A deal was inked between Hewlett-Packard and Cosco to make Piraeus, Greece a key hub for supply and distribution. Hewlett-Packard, the PC and technology company and Cosco, the Chinese shipping giant, agreed that regional supplies would be distributed in the ancient Greek City.
According to the Greek Development Ministry, the central distribution hub of HP would be in Piraeus to serve demands from its business centers in central and eastern Europe, the Middle East, Northern Africa and the eastern Mediterranean parts of the world. The agreement also was in time for the unveiling of a new seventeen kilometer railway line that connects the port of Piraeus to the main logistics network in Europe.
The global supply and transport operations of the technology company is estimated to be worth over US$50 billion annually. For its part, the Cosco has a standing concession agreement with the Piraeus Port Authority for a term of thirty five years.
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