The government of Greece has scrapped plans to privatise its northern port of Alexandroupolis.
PM Kyriakos Mitsotakis said in a TV interview on 7 November that the port is too important of an asset to relinquish, following bids coming in for the port earlier this year.
In September two binding bids came in for a majority stake in Alexandroupolis.
The country’s privatisations agency, Hellenic Republic Asset Development Fund (HRADF), received bids for 67 per cent of the Alexandroupolis Port Authority.
Bidders were Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, consisting of Black Summit Financial Group, Euroports, EFA Group and GEK Terna (HRMr.AT).
Mitsotakis said in the interview that “geopolitical developments” drove a reconsideration of the deal with private investors.
The PM added that the government plans to create a floating gas storage and regasification unit at the facility, at a time where energy flows from Russia have been stunted due to sanctions from the ongoing Russia-Ukraine conflict.
The northern Greek port is a crucial logistical and geopolitical lynch pin, bordering with Bulgaria and Turkey.
The port is also a gateway for transit of military materials to Ukraine, and European energy sources.