HEWLETT-PACKARD has sealed a deal with Chinese shipping giant Cosco to move a key part of its regional supplies through the main Greek port of Piraeus, officials say.
According to the Greek development ministry, HP will move to Piraeus its central distribution hub for central Europe, the Middle East, North Africa, the eastern Mediterranean and eastern Europe.
"We believe in Greece and the future of the Greek economy," said Tony Prophet, HP's senior vice-president for operations.
The US computer giant also has regional logistics hubs in Rotterdam and Dubai.
The agreement coincides with the completion of a new 17-kilometre railway line connecting Piraeus with the main European freight network.
Greek state rail operator Trainose can now forward a train to HP's key European hub in Prague in five days, the company's chairman Thanassis Ziliaskopoulos said.
By 2015, Trainose - which is up for privatisation - should be able to handle 2000 trains per year, Ziliaskopoulos said.
The US computer giant's global supply and transport operation amounts to $US50 billion ($A49.22 billion), the Greek development ministry has said.
"I wish to thank these two companies who are marking a new start for Piraeus through this dynamic move," said Greek Prime Minister Antonis Samaras, who attended a ceremony at Cosco's installations near Piraeus alongside the US and Chinese ambassadors.
"Such investment will help our country deal with unemployment which remains the top item on this government's agenda," Samaras said.
Some 27 per cent of Greeks are officially unemployed, including 6 in 10 youths.
The two companies had reached a preliminary deal in November.
The Piraeus port authority (OLP) has a 35-year concession agreement with Cosco to run two of its container terminals.
