Independent journal on economy and transport policy
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PORTS
Grimaldi completes the acquisition of 67% of the capital of the Port Authority of Heraklion
80 million euros invested
Heraklion
September 18, 2024
The Neapolitan shipowner group Grimaldi has today completed
the acquisition of 67% of the capital of the Port Authority of Heraklion
(
of 18
December 2023). The signing of the agreement took place today in
Heraklion, at the headquarters of the port authority, formalizing the purchase
of the share by the Holding of Heraklion Port S.A., a
consortium formed by the companies of the Grimaldi Euromed group and
Minoan Lines, for a consideration of 80 million euros. The
the remaining 33% share of the port authority remains with Hellenic
Republic Asset Development Fund (HRADF), previously holder
of the entire capital.
50% of the €80 million paid by the Grimaldi group will be
allocated to the Special Account for the Development of Infrastructure
to the Bank of Greece for the financing of
development and upgrading of state port infrastructures
in the HRADF portfolio, as required by the provisions of the
New Greek Law 5131/2024.
At the signing, representing the administrative apparatus
Greek central office, the Minister of Economy and Economy
Kostis Hatzidakis, the Minister of Maritime Affairs and
of Insular Policy, Christos Stylianides, is the first
Vice-President of the Hellenic Parliament, Giannis Plakiotakis. In his
speech, the president and CEO of Grimaldi
Euromed, Emanuele Grimaldi, pointed out that "this port
has great potential for new trade routes both for the
passenger transport and freight transport, including
cruises and motor vehicles. We know this well because many
years we are the main customer of the port through the Minoan
Lines, a Grimaldi group company based in Heraklion. With
the investments we intend to make in energy sources
- added Emanuele Grimaldi - we will support the development of renewable energy
and its transformation into a truly sustainable port
and model for the Mediterranean region. Our goal
is to develop better services in the port, with a
more commercial activity, more tourist traffic,
more business opportunities, new jobs and
greater prosperity for the city of Heraklion,
the island of Crete and for Greece as a whole".
"Today," said Minister Hatzidakis, "it is a
important day not only for Heraklion and Crete, but also for
the national economy as a whole, for three reasons: firstly,
place, the Port Authority of Heraklion acquires a strong
shareholder, the Grimaldi group, one of the largest
shipowners in Europe, which has already acquired the majority
of the actions of the Port Authority of Igoumenitsa after the
corresponding HRADF tender. Secondly, the State
ensures a significant consideration of €80 million while
maintaining 33% of the Fund's shares. And thirdly, it is
the first contract for which the new provision applies
of Law 5131/2024, according to which 50% of the price will be
for the strengthening of ports that are in the portfolio of the
HRADF. It is also important for the local community to
Heraklion which, after the redefinition of the land area of the port,
the freed parts are donated to the Municipality. This is
It has always been a request of the municipal administration. The government
is implementing a comprehensive strategy to strengthen the country's ports.
Why this upgrade means better services for
islanders and tourists, facilitations for trade,
greater revenue for the State, development and employment".
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