The Hellenic Republic Asset Development Fund, which manages the privatisation programme of ports and other public assets in Greece, has announced that the preferred bidder for the acquisition of a 67% stake in the share capital of the Igoumenitsa Port Authority is a consortium led by the Grimaldi Group.

The consortium comprises Grimaldi companies Grimaldi Euromed and Greek-based Minoan Lines Shipping (which together represent 90% of the consortium) and a Greek company, Investment Construction Commercial & Industrial. The financial offer amounts to €84.17M.

The concession includes the right to exclusive use and management of the assets of the port area of ​​Igoumenitsa, the fishing shelters of Sagiada and Plataria and the yacht shelter of Syvota. Igoumenitsa is the main port of Epirus and one of the largest commercial ports in Greece, strategic for connections between mainland Greece and the rest of Europe.

“We are ready to invest in the growth of the port of Igoumenitsa, and at the same time in the development of trade routes around the ancient Via Egnatia, of which the Greek port is the main gate,” said Grimaldi Group Managing Director Emanuele Grimaldi.

“Our group has long been the main customer of the port, and in this sense the acquisition of the majority of its share capital is part of a broader strategy of vertical integration. In addition, through our investments in the port we aim to facilitate the development of the local economy.

“Improving the services of the port of Igoumenitsa means making the tourist product of the area even more attractive, stimulating the traffic of passengers and goods as well as the emergence of new business activities related to maritime tourism; more generally, it means generating more job opportunities.”

Greece’s Minister of Shipping and Insular Policy Yannis Plakiotakis said, “A new era begins for the port of Igoumenitsa with a strong development perspective and significant benefits for the local society and economy. The result of the tender process exceeded all expectations.” The other bidder for the port was Attica Group (SuperFast Ferries). 

Grimaldi Group provides regular ro-pax ferry services between Igoumenitsa and the Italian ports of Ancona and Brindisi, through its Grimaldi Lines and Mionan Lines brands.