Shipping minister signs revised deal for Thessaloniki Port

A revision of the concession agreement for the sale of 67 pct of the Thessaloniki port to South Europe Gateway Thessaloniki (SEGT) Limited was signed by Shipping Minister Panagiotis Kouroumblis on Friday, which lays out the nature and scope of SEGT’s activities, as well as the responsibilities and obligations of each side – the Greek State and the private investor.

The SEGT consortium consists of the preferred bidder Deutsche Invest Equity Partners GmbH, Belterra Investments Ltd. and Terminal Link SAS, and the sale totaled 231,926,000 euros. The concession agreement was signed in late December 2017.

According to information, the revised concession agreement excludes a series of buildings at Pier 1 that are not required for the provision of port services, and obliges SEGT obligation for investments amounting to 180 million.

It also clarifies that the current uses and functions of Pier 1 will be preserved, as well as the free access and use of the area for cultural or municipal activities organized by the municipality Thessaloniki. The deal also excludes buildings housing civil services and obliges the investor to maintenance of OLTH’s historic archive in an appropriate location, with open access for the public.

The agreement will now have to be signed by Finance Minister Euclid Tsakalotos and then head to parliament for approval.