Crete: Tender Process for Development of Heraklion Port Begins

Heraklion port. Photo source: HRADF

The Hellenic Republic Asset Development Fund (HRADF) on Monday launched an international tender for the development of the port of Heraklion, Crete.

The tender is part of HRADF’s strategy to develop the country’s port infrastructure assets included in its portfolio.

According to an announcement by HRADF, the tender process for the Heraklion Port Authority (HPA S.A.) foresees the sale of a majority stake of at least 67 percent of the company’s share capital.

HPA has the right to exclusively use and operate the buildings, land and facilities of the port land-side zone of Heraklion’s port based on a concession agreement with the Hellenic Republic.

The tender process will be held in two phases: (a) the submission of expressions of interest and prequalification of interested parties and (b) the submission of binding offers and selection of the preferred investor.

Interested parties are invited to submit their expression of interest on the HRADF website by Friday, July 30.

HRADF has appointed Deloitte Business Solutions – Euroconsultants as the project’s financial advisor;  Your Legal Partners – Dracopoulos & Vassalakis – Alexiou Kosmopoulos as legal advisor; Doxiadis Associates, Consultants on Development and Ekistics S.A. as technical advisor, and Port Consultants Rotterdam B.V. as commercial advisor.