Kavala Port’s ‘Philippos II’ Terminal Set for Major Upgrades with New Sub-Concession

Greek Minister of Maritime Affairs and Insular Policy Christos Stylianides with (among others) Growthfund CEO Gregory D. Dimitriadis, Kavala Port Authority S.A. CEO Angelos Vlachos, Sarisa S.A. Chairman Emmanuel Moustakas and Member of the Board of Directors of EFA VENTURES and Sarisa S.A., Dimitris Parthenis.

On Friday, January 24, the agreement marking the commencement of the sub-concession for the development of the “Philippos II” terminal at Kavala Port Authority S.A. (KPA S.A.) was signed.

According to an announcement from Growthfund, Greece’s national fund, the investor has secured the right to use, operate, and maintain the multi-purpose terminal at Kavala Port for a 40-year period.

The agreement was formalized between KPA S.A. and the sub-concession company “Sarisa Sub-Concession of Kavala Port Philippos B S.A.” (made up of GEK Terna, Black Summit Financial Group and EFA Group)

Under the terms of the agreement, the total estimated fee amounts to nearly 34 million euros. This sum includes the upfront payment and the annual guaranteed fees to be paid to the Greek State over the 40-year sub-concession period. Additionally, the agreement includes a commitment to implement investments worth 36 million euros to further develop the terminal, including heavy maintenance costs. Mandatory investments include the construction of buildings for the Port Authority, the Navigation Service, and a Customs Station.

The investor is also required to develop a reforestation plan for the Aspra Chomata area and maintain, clean, and guard the area throughout the sub-concession period.

A new era for the Philippos II terminal

Kavala Port. Photo source: Growthfund

With the start of the sub-concession, the “Philippos II” commercial port is set to enter a new phase of development. Significant investments in upgrading its operational capabilities will benefit the local community and economy. These improvements will also strengthen the Port of Kavala’s potential as a strategic hub in Northern Greece and the Balkans.

Further boosting Kavala Port’s prospects, the extension of the railway network, particularly with the Nea Karvali – Toxotes section, will enhance connectivity. The contract for this key infrastructure project is expected to be signed in the first quarter of 2025.

Future developments include a marina

Growthfund, acting as the Ports Planning Authority, is overseeing the overall development of the port infrastructure of Kavala. The preparation of the Master Plan for the “Apostolos Pavlos” passenger port is underway, with plans to develop a marina and upgrade the fish market infrastructure. Recently, an international tender was launched for the sub-concession of cruise activities at the “Apostolos Pavlos” port. According to Growthfund, these efforts underline its commitment to enhancing the infrastructure of the “Apostolos Pavlos” port and strengthening Kavala’s tourism industry.

Moreover, 50 percent of the revenues from the sub-concession of the “Philippos B” terminal will be allocated to upgrading the infrastructure of the “Apostolos Pavlos” port, generating further benefits for the local community.

Minister: The agreement offers a ‘much-needed’ boost to Greece’s maritime trade

Greek Minister of Maritime Affairs and Insular Policy Christos Stylianides.

During the signing of the agreement, Greek Minister of Maritime Affairs and Insular Policy Christos Stylianides spoke of the strategic importance of the project.

He highlighted the role of public-private partnerships in addressing long-standing infrastructure challenges and driving Greece’s maritime trade growth.

“This significant private investment will offer a much-needed boost to the country’s maritime trade and the development of Kavala,” the minister said.

Stylianides noted that the development of Kavala Port aligns with Greece’s broader strategy to strengthen its position in global trade networks, particularly as the region benefits from new corridors connecting Asia, Central Europe, and India.

“For the first time we are making the most of our strategic position in international trade by unlocking the great potential of our ports,” he added.