China's COSCO Shipping Corporation Limited targets to more than double the number of its cruise passengers by extending facilities to cater bigger ships in Greece's port Piraeus, its chairman said on Monday.

"The movement of cruise passenger is around 1.1 million a year at present," Xu Lirong, COSCO Shipping chairman, said during the inauguration ceremony of the new cruise ship terminal of Agios Nikolaos at the port Piraeus.

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"Our short term goal is to increase it up to 1.5 million, and 3 million in the longer term."

COSCO reportedly has entered talks with major firms in the cruise sector to develop Piraeus into a major cruise port in the Mediterranean, Tornos News reported.

Xu also said that Piraeus will be extended for new docking space for next generation, bigger and more luxurious cruise ships, Greek Reporter noted.

Furthermore, "The quality of services will be upgraded, and there is plenty of potential for future growth in this sector."

Tourism has long been Greece's main source of income, accounting for 17 percent of its $206.4 billion economic output. This year, tourism body SETE projects tourism revenue to jump by 1 to 2 percent to about $16.74 billion with 27.5 million anticipated visitors including cruise ship passengers.

COSCO shipping has acquired more than half (51%) of Greece port's operating company for $315 million this year, since a debt crisis hit in 2009.  Under the privatization agreement, COSCO must first conclude investments of nearly $335 million within five years before it could buy an additional 16 percent stake in Piraeus, according to Asia Times.

TagsPiraeus, COSCO, Greece, cruise, Cruise Ship, tourism, greek tourism