Piraeus, Greece (PortSEurope) January 11, 2018 – Following the privatization of Piraeus Port Authority S.A. (now managed by China’s COSCO Shipping Ports Limited) and its subsequent growth, the Hellenic Republic Asset Development Fund (HRADF/TAIPED), the government privatisation agency, is expecting keen interest in the future privatisation of the Attica Port System holding company, which includes the Ports of Lavrio, Elefsina and Rafina.
The Greek state’s portfolio includes 10 ports in the form of societe anonyme, namely the ports of Volos, Rafina, Igoumenitsa, Patra, Alexandroupolis, Heraklion, Elefsina, Lavrion, Corfu and Kavala.
Already, strong investment interest has been shown in Alexandroupolis port, both because of its strategic location and the work offered by the Trans Adriatic Pipeline (TAP) project.
HDRAF holds 100% of the shares in the port companies which have the right to operate these ports until 2042, and is in the process of evaluating the most appropriate approach for the development of these ports.
Recently, a meeting of the above ports at the Ministry of Shipping and Island Policy took place, in the presence of the Minister, Panagiotis Kourouplis, the Deputy Minister, Nektarios Santorini and the Secretaries-General, Christos Lambridis and Dionysis Kalamatianou.
At the meeting, HRADF President, Aris Xenophos, said that under the fund’s management, the last four years had seen reduced costs and increased revenues.
HRADF executives stressed that further development was limited by the need for new funds for investment and infrastructure expansion, while stressing that it is also necessary to co-manage the development prospects of each port and local communities.
Supporting the further development of the 10 port organizations, HRADF commissioned independent consultants to conduct a study on the possibilities for their exploitation. The purpose of the study was to investigate and highlight the potential of each port organization so that the Fund’s Board of Governors can decide on the strategy and the next steps towards their exploitation.
HRADF will communicate the findings of the study in each of the ports in due course.
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