Shipping Ministry Eyes Significant Investments at 10 Greek Ports

Volos Port. Photo © GTP

Significant investments at 10 ports in Greece will be carried out in the near future, according to Greek Shipping Minister Fotis Kouvelis.

Speaking during the recent Slide2Open Shipping Finance 2019 conference held in Athens, Minister Kouvelis noted that the legislation involving sub-concessions for investments covering specific activities at 10 major Greek ports is in the final stage.

Port of Heraklio. Photo source: Heraklion Port Authority

The minister said that the ports of Corfu, Igoumenitsa, Volos, Heraklion, Patra and Alexandroupolis are among the 10 ports where investments involving the creation of infrastructure for cruise ships, marinas and shipbuilding repair areas, among others, are being planned. It is noted that the port of Piraeus is not included in the 10 ports the minister was referring to.

During his speech, the minister said that the remains of the crisis has negatively affected funding for the sector.

He also noted the necessity of fleet renewal and the need to adopt new ways of financing, adding that leasing is one of them. “The state supports this, as long as that ships acquired this way have the Greek flag,” he said.

Minister Kouvelis also said that important investments will be needed in the coming years due to the changes in fuel and stressed that the state is open to ideas that will help Greek shipping remain a pioneer.