ATHENS, May 18 (Xinhua) -- Greece-based Piraeus Port Authority S.A. (PPA), a member of China's COSCO Shipping group, has donated the so-called SILO building and its adjacent spaces at the port to the Greek Ministry of Culture and Sports for the construction of a Museum of Underwater Antiquities, according to a joint a press release issued on Wednesday.
The 13,761-square-meter area was conceded to the ministry in the presence of Minister of Culture and Sports Lina Mendoni, PPA's Chairman Yu Zenggang and China's Ambassador to Greece Xiao Junzheng.
The project, which is expected to be completed by the end of 2025, has a budget of 77.6 million euros (81.4 million U.S. dollars). It will be financed through funds that the Greek ministry has obtained through European Union's Recovery and Resilience Fund.
The museum also foresees an exhibition space dedicated to Chinese underwater antiquities.
COSCO Shipping acquired a majority stake in PPA in 2016 after an international tender. The group's subsidiary, Piraeus Container Terminal S.A. (PCT), manages the port's container terminal since 2010. The image of Greece's largest port has changed in recent years through upgrades and expansion work. (1 euro = 1.05 U.S. dollars) Enditem
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