Greek investor Aktor Concessions SA was nominated as the preferred bidder to be granted the right to use and exploit Alimos Marina in southern Athens for a period of 40 years, in the context of Greece’s privatization program, the Hellenic Republic Asset Development Fund (TAIPED), the country’s privatization fund, announced on Tuesday.
During an e-auction procedure conducted on Tuesday, the Greek company offered 57.5 million euros, according to an e-mailed press release.
The value of the agreement amounts to a total consideration of at least 177 million euros, as in addition to the price that will be paid upfront it also includes an annual concession fee and a percentage of the annual revenues, TAIPED explained.
The concessionaire will proceed with investments amounting to 50 million euros within the next five years to modernize the marina.
Constructed in the 1960s, Alimos Marina has 1,000 permanent berths. After its upgrade it will have at least 1,200 permanent berths and will be able to accommodate yachts up to 45 meters long.
In addition to the upgrading of existing port infrastructures, under the development project, the marina’s land area will also be transformed.