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Greek Ports Are Leverage For National And Regional Economy Development

Greek ports are leverage for national and regional economy development

Greek Ports Are Leverage For National And Regional Economy DevelopmentSource: Hellenic Republic Asset Development Fund
G. Plakiotakis: Greek ports are leverage for national and regional economy development – September 23, 2019

The Minister of Shipping and Island Policy, Yiannis Plakiotakis, mentioned today the investment prospects being opened in the port sector in Greece, during his placement in the round table organised by the Delphi Economic Forum in Athens. 

Plakiotakis, after emphasising that the Greek ports, because of their geographical location are hotspots that unite three continents, Europe, Asia and Africa, pointed out that they are de facto leverages for the development of both the national and regional economies. of the country. 

“Our decision”, he said, “is to move rapidly towards defining the modernisation model of each port separately based on sustainability studies already undertaken by the Hellenic Republic Asset Development Fund (HRADF), responsible for privatising Greek state-owned assets.

“In this process”, he stressed, “there are no prerequisites. These studies will show us the ideal model of development for each port separately. I think we will have the first studies in the next two weeks.”

Concerning the ports of Piraeus and Thessaloniki, Plakiotakis, after emphasising the importance of the investments planned in these two ports for the national economy of the country, emphasised that “the government has decided to proceed with their master plans immediately. 

It specifically stated that the Piraeus Port Authority SA (PPA) master plan includes investments of €800 million, while the corresponding master plan of Thessaloniki Port Authority (THPA SA) concerns investments of €300 million.

“These investments,” he said, “are already proceeding. Regarding the port of Piraeus on September 25, the decision of the Port Planning and Development Committee (ESA) on the master plan of PPA is expected, while the master plan of PPA is also under development.

Piraeus Port Authority is operated by China’s COSCO Shipping Ports Limited.

Thessaloniki Port Authority was privatised on March 23, 2018, and is now operated by South Europe Gateway Thessaloniki (SEGT) Ltd, a consortium, in turn, owned by Deutsche Invest Equity Partners GmbH (47%), Terminal Link SAS (33%) and Belterra Investments Ltd (20%).

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