Greek Assets Body Aims to Launch Third Port Privatization Phase in Fall

Patra port, Greece

The Greek assets body TAIPED is aiming to launch the third privatization phase of 10 ports across Greece in fall, with priority on four in Northern Greece, three in Attica as well as ports in Patra, Volos and Heraklio.

The third phase follows the sale of the Thessaloniki Port Authority to South Europe Gateway Thessaloniki Limited (SEGT) for 231,926 million euros earlier this year.

Volos port

Next in line for immediate development are the ports of Alexandroupolis, Kavala, Igoumenitsa, Corfu and Volos. So far the ports of Alexandroupolis and Corfu have garnered the most interest.

Unlike the previous two ports – those of Thessaloniki and Piraeus – the government will not proceed with the full sale but will instead enter PPP contracts to “encourage the advent of investors who have specific knowhow and experience, while at the same time ensuring the public’s best interests”.

Kavala, northern Greece.

The interest is now focused on what activities will be sub-contracted. According to Naftemporiki, which cites sources, cruise travel activity is the point of interest for Corfu and Heraklio, freight services for Alexandroupolis, connecting ports in the Black Sea for Kavala, and serving the Adriatic for the port of Igoumenitsa.

The ports of Lavrio, Rafina and Elefsina, according to Naftemporiki, have been put on the back burner for now as there has been limited investor interest.

It should be noted that the said 10 ports have recently posted improved financial results and profitability.