Grimaldi completes acquisition of Igoumenista port, Greece

Grimaldi completes acquisition of Igoumenista port, Greece

Ports Europe — 2023-10-24

Members Corner

Italy’s Grimaldi has completed the acquisition of Igoumenista port, Greece, as part of the country’s regional port privatisation programme. The Greek government has agreed to Grimaldi ownership of port of Igoumenitsa.

Last March, the joint venture established by the companies Grimaldi Euromed S.p.A., Minoan Lines S.A. and Investment Construction Commercial And Industrial S.A. (EKEV SA) signed an agreement with the Hellenic Republic Asset Development Fund (HRADF). It will purchase of a share stake of 67% of Igoumenitsa Port Authority for €84.17 m.

Igoumenitsa Port Authority S.A. (OLIG S.A.) has the right to exclusively use and operate the buildings, land and facilities of four ports. These include the port of Igoumenitsa, the fishing shelter of Sagiada, the fishing shelter of Plataria and the pleasure boat shelter of Sivota, which are located in northwestern Greece. The concession agreement has a duration of 60 years from its signing, expiring on February 3, 2062.

The port is geographically the closest port of Greece to Italy and the Balkan countries. It is a major connection for passengers and goods traffic to and from Western Europe.