BUSINESS

Four regional port networks to go up for sale

The process for the privatization of 12 Greek ports got under way on Thursday with the publication of its terms by the Merchant Marine Ministry. The regulations were put up for public consultation and constitute one of the so-called prior actions that the government must complete according to the bailout agreement signed with the country’s creditors.

The 12 ports will be divided into four companies, thus setting up an equal number of port networks, in Attica, northern Greece, western Greece and Iraklio, Crete. These networks may also have other neighboring ports incorporated at a later date.

The framework also includes the setup of the Port Regulatory Authority and the Committee for the Planning of Port Development. Both bodies will come under the jurisdiction of the Merchant Marine Ministry.

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