Hellenic Republic Asset Development Fund launches port sale tender

Greece opens port tender sale

The Hellenic Republic Asset Development Fund (HRADF) has launched an international public tender for the development of the Port of Heraklion, Crete, within the framework of its strategy for the development of the country’s port infrastructure assets.

The tender process for the Heraklion Port Authority (HPA) regards the sale of a majority stake of at least 67% in the company’s share capital.

HPA says it has the right to exclusively use and operate the buildings, land and facilities of the port land-side zone of Heraklion’s port by virtue of a concession agreement with the Hellenic Republic.

The tender process will be held in two phases: (a) submission of expressions of interest and prequalification of interested parties and (b) submission of binding offers and selection of the preferred investor. Interested parties are invited to submit their expression of interest on Friday, July 30th, 2021.

HRADF has appointed Deloitte Business Solutions – Euroconsultants as the financial advisor for the tender, along with Port Consultants Rotterdam as the commercial advisor.

Greece’s maritime industry has attracted considerable foreign investment in recent years, particularly the Port of Piraeus, which Chinese state-owned terminal operator COSCO Shipping Ports (CSP) has acquired a majority share in the hope of improving trade between Europe and Asia.  

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