BUSINESS

Thessaloniki port sale to be signed on December 15

TAGS: Privatizations

The sale of a 67 percent stake in Thessaloniki Port Authority (OLTH) is expected to be signed on December 15, the representative and coordinator of the consortium that was granted the tender, Sotiris Theofanis, said on Friday.

State sell-off fund TAIPED approved the bidder's proposal in late October and sent it on to the Council of Auditors, before the concession agreement can be signed and approved by a majority of lawmakers in Parliament.

The consortium eyeing the majority stake in OLTH comprises Deutsche Invest Equity Partners (DIEP), a subsidiary of CMA, Terminal Link, and Belterra Investments.

The Greek state expects 231.93 million euros from the concession.

Speaking at a logistics conference in the northern port city, Theofanis said the consortium is planning to expend the Pier 6 much sooner than foreseen in the agreement, within four years instead of seven, and will also be upgrading the port's handling equipment.

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