This marks the second port privatization tender cancelled by the Hellenic Republic Asset Development Fund (HRADF), following the cancellation of the tender for the sale of the Port of Alexandroupolis about two years ago. The Greek government chose to retain control of this port.
The decision, which was unanimous by the Board of Directors of the company, is part of a new strategic framework for managing public assets, shaped following the absorption of HRADF by the Growthfund.
Public interest considerations necessitate the adjustment of the port's strategic utilization to ensure its optimal development, benefiting both the national economy and the local community. The infrastructure of the Port of Volos is being reinforced with significant restoration and upgrading works amounting to €9 million from the Public Investment Program (PIP), following the damage caused by the "Daniel" storm. This alters the economic and functional value of the port.
It is worth noting that the tender process had reached its final stage, aiming to transfer the port's management to the Thessaloniki Port Authority (OLTH S.A.), which had been selected as the Preferred Investor, offering €51 million, almost double the amount proposed by "Goldair Cargo S.A. – Goldair Handling S.A." (€26 million), which was named as the Alternate Preferred Investor by HRADF.
The Concession Agreement between the State and O.L.V. S.A. was to last 60 years from the signing, with an expiration date set for 2062. The main activities of the management company would include cargo and container services, steel and scrap metal, dry and liquid bulk cargo, passenger services including ferry routes to the Sporades, and cruise activities.
The Greek state has granted O.L.V. S.A. exclusive rights to use and operate the following port facilities:
- The port facilities at the Goritsa location in Agrias (loading/unloading docks "AGET Heracles" and "Elin Oil"),
- The loading/unloading docks at the Tsiggelis location in Almyros, Magnesia (docks for "Sovel" and "Aeiforos S.A."), and
- The port facilities at the Agrias Bay of Volos.
As stated in the announcement, the leadership of the Asset Development Fund made this decision after considering both public interest and the significant changes in the economic and technical parameters of the tender. The goal is to upgrade and develop the Port of Volos, which has all the necessary conditions to play a pivotal role in the commercial and tourism development of Thessaly. It is intended to become a gateway for outward-facing growth and, together with other ports across the country, to advance Greek interests in the broader Mediterranean region.
