Shipping Ministry Moves Forward with Volos Port Restoration

General Secretary of Maritime and Ports Evagelos Kyriazopoulos, Transport Minister Christos Staikouras, Shipping Minister Christos Stylianides, TEKAL Vice President Argyro Psaltakou, HRADF Authorized Advisor Panagiotis Stamboulidis, Deputy Civil Protection Minister Christos Triantopoulos, Growthfund Deputy CEO Stefanos Giourelis. Photo source: Shipping Ministry

The Shipping Ministry has signed a contract to restore the port of Volos, following the 2023 natural disasters Daniel and Elias, aiming to boost its commercial and tourism importance for Thessaly’s development.

Earlier this year, the ministry appointed the Project Preparation Facility (PPF) of the Hellenic Republic Asset Development Fund (HRADF) to finalize a tender for selecting a contractor for the project.

Following the tendering process, the contract was awarded to the construction company TEKAL.

Shipping Minister Christos Stylianides signing the contract with Argyro Psaltakou, Vice President of the Board of Directors of “TEKAL”. Photo source: Shipping Ministry

Shipping Minister Christos Stylianides signed the restoration contract with Argyro Psaltakou, Vice President of the Board of Directors of TEKAL. The contract covers the study and restoration of the functional depths (deepening) of the port basin, including the removal of accretions left by the extreme weather events of September 2023.

The two major storms deposited a substantial amount of debris in the port’s docking area, severely hindering ships from entering and docking.

“The signing of the contract to restore the operational depths of the port of Volos following the devastating storms Daniel and Elias marks a crucial step toward returning normalcy to the wider region,” said Christos Stylianides during the signing ceremony.

Port infrastructure enhancement 

With funding of 9.5 million euros, the restoration contract aims to enhance the port’s infrastructure to ensure safety, efficient operations, resilience to natural disasters, and sustained financial and commercial activity, establishing it as a key pillar of development for the region. 

“Upon the project’s completion, the Volos Port will be able to safely accommodate ships, ensuring the seamless flow of goods and bolstering both the local and national economy,” the minister added. 

Volos Port to connect with Thessaly’s road and rail network

Transport Minister Christos Staikouras, Shipping Minister Christos Stylianides and “TEKAL” Vice President Argyro Psaltakou. Photo source: Shipping Ministry

The project is slated for completion by the summer of 2025, paving the way for the economic growth of Magnesia and Thessaly. 

During the signing ceremony, Transport Minister Christos Staikouras emphasized that maximizing regional development benefits requires broader utilization of the port and its integration with road and rail networks. 

“In the coming weeks, procedures will be finalized to initiate projects for the restoration of roads, bridges, and the Volos-Larissa railway network, upgraded with greater resilience,” added Staikouras, highlighting the benefits of public infrastructure in enhancing the region’s connectivity. 

HDARF and Growthfund prioritize supporting regional development 

HRADF Authorized Advisor Panagiotis Stamboulidis. Photo source: HRADF

The upgrade of Volos Port is part of the Hellenic Republic Asset Development Fund’s (HRADF) and Growthfund’s broader strategy to promote regional development and strengthen Greece’s maritime tourism industry. 

Panagiotis Stamboulidis, the authorized advisor of the HRADF, noted that the signing of the contract underscores the fund’s dedication to completing critical tenders that drive regional development and hold significant benefits for local communities. 

Echoing this perspective, Growthfund Deputy CEO Stefanos Giourelis emphasized that the completion of the Volos Port project aligns with the shared vision of both organizations to implement projects of strategic importance. 

“The port of Volos, upon project completion, will become a robust development hub, strengthening the local economy and addressing the challenges posed by the climate crisis,” Giourelis said. 

The Hellenic Republic Asset Development Fund (HRADF) is a member of Growthfund, the national fund of Greece.