SEP, the Greek subsidiary of Chinese firm COSCO has promised to create about 1,000 new jobs at the port of Piraeus, following the approval in Parliament of an amicable settlement with OLP.

In its statement the subsidiary praised the Greek government’s decision and claims that it will now be in the position to further invest and created jobs in Piraeus.

The approval of the settlement will pave the way for the construction of Pier III at Piraeus, which the firm claims will see investments worth 230 million euros and the creation of 800 permanent job posts.