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The port of Kavala is developing dynamically

The ratification by the Parliament of the sub-concession contract for the utilization of the “Philippos II” port to a private investor will enhance the development dynamics of the commercial port of Kavala.

The company SARISA SUB-CONCESSION PORT OF KAVALAS PHILIPPOS II SA, established by the consortium International Port Investments Kavala, assumes for at least 40 years the right to use, operate, maintain and exploit the multi-purpose commercial port for a price of 33.9 million euros, while, according to the Hellenic Republic Asset Development Fund (HRADF), the sub-concessionaire will invest another 36 million euros for the further development of the port, including heavy maintenance costs.

It is noted that the consortium International Port Investments Kavala, made up of the companies GEK TERNA – Black Summit Financial Group – EFA VENTURES, emerged as the preferred bidder in the relevant tender conducted in May 2022.

The private investor will have to proceed with a series of mandatory investments, which include the construction of buildings to serve the needs of the Port Authority, the Shipping Service and the customs station. Further investments in which the subconcessionaire will proceed concern the supply of new equipment and infrastructure.