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Greek parliament debates regional port privatisation

Piraeus, Greece (PortSEurope) February 19, 2019 – The Greek government has started debating the issue of regional port privatisation which could lead the Hellenic Republic Asset Development Fund (HRADF), responsible for privatising Greek state-owned assets, to start the process.

The portfolio includes 10 ports in the form of sociétés anonymes, namely the ports of Volos, Rafina, Igoumenitsa, Patras, Alexandroupolis, Heraklion, Elefsina, Lavrion, Corfu and Kavala. HRADF holds 100% of the shares in the aforementioned port companies which have the right to operate the respective ports until 2042.

In the last two years, the Piraeus and Thessaloniki port authorities were sold via the sale of majority stakes. The process for regional ports is likely to be by awarding sub-concessions for individual activities such as cruise, freight and cabotage.

A concession process is expected to begin with the ports in northern Greece – cargo business concessions in Alexandroupolis and Kavala.

In the case of the port of Alexandroupolis, privatisation will help enable the port develop an as energy hub in the region. The U.S. government has shown interest in the port for both economic and geopolitical reasons.

THis will be followed by the ports of Igoumenitsa, Volos (possible cargo concessions) and Corfu (cruise ship concession).

The privatisation of the ports at Rafina, Iraklio, Patra, Lavrio and Elefsina is expected after 2020.

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