Already, the China Ocean Shipping Company (COSCO) has obtained a 35-year lease to operate the second pier at the port of Piraeus, one of the busiest in the world, for €3.5 billion, and has purchased a truck-loading facility and packaging center in the Piraeus suburbs. The company has also expressed its intention to acquire 23% of Piraeus Port Authority, and is seeking to lease or acquire ports on the island of Crete.