Port of Thessaloniki acquires Volos Port Authority

Port of Thessaloniki acquires Volos Port Authority

The Board of Directors of HRADF (the Hellenic Republic Asset Development Fund) has declared Port of Thessaloniki (ThPA S.A.) as the preferred investor for the acquisition of 67 per cent of the shares of Volos Port Authority S.A.

Volos Port Authority is the managing company of the Port of Volos. The acquisition price for Volos Port Authority is estimated to be €51 million ($53.5 million).

READ: Port of Thessaloniki strikes labour deal with dockworkers

The participation of ThPA S.A. in the HRADF tender for the use of the Port of Volos was determined by the Company’s Board of Directors following a thorough market study and appraisal of the Volos port’s development possibilities.

ThPA S.A.’s involvement in Volos Port Authority S.A. intends to fulfil needs more effectively, both in the market of Central and Northern Greece and worldwide, adding value to the Greek economy and society.

In August, ThPA S.A. announced a new cooperation with Ashdod Port Company Ltd., the national port of Israel.

That same month, ThPA S.A. announced the inauguration of a new container block-train service between Thessaloniki and Skopje, the capital of the Republic of North Macedonia.

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