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New Development Model for 10 Greek Ports

Photo source: Igoumenitsa Port Authority (olig.gr)

Photo source: Igoumenitsa Port Authority (olig.gr)

Greece’s Shipping Minister Yiannis Plakiotakis recently said that the government would be implementing a new model for the development of 10 state-owned ports across the country.

Volos Port. Photo © GTP

Volos Port. Photo © GTP

In collaboration with Greece’s assets fund TAIPED, the ministry is already carrying out assessment studies in order to identify ways to best capitalize on the regional ports, namely those of Rafina, Elefsina, Lavrio, Volos, Patra, Igoumenitsa, Alexandroupolis, Irakleio on Crete, Corfu and Kavala.

According to TAIPED Executive Chairman Aris Xenofos, first up for immediate development are the ports of Alexandroupolis, Kavala, Igoumenitsa, and Corfu.

Plakiotakis said the ministry would be drawing up separate plans for each port with the aim of tapping into the individual potential.

“At present, investments are being made under specific terms and conditions, and all interested investors will have knowledge of rules of the game, while also ensuring the public interest, investment and jobs. Our port infrastructure needs to be modernized through investment. We are upgrading, modernizing port infrastructure based on specific conditions,” said Plakiotakis.

Photo source: Kavala Port Authority (portkavala.gr)

Photo source: Kavala Port Authority (portkavala.gr)

Plakiotakis went on to note that the previous development model of sub-contracting, which included entering partial concession deals or handing over full management of the ports, failed to include terms of investment and projected revenue, and did not capitalize on the potential of each port separately.

He added that after considering all proposals and studies, the ministry will decide on a case-by-case basis whether concession or subcontracting activities are more appropriate.

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