A new era for the Heraklion Port Authority

Mandatory investments, port fees and the rights of the new investor to enter into agreements for the execution of projects are described in the concession contract of the port of Heraklion to the Italian Grimaldi group.

For the first time, a new procedure is followed regarding the concession to a new investor, as a Port Fund is created for the infrastructures that are not granted.

The relevant text has already been submitted to the Standing Committee on Production and Trade of the Parliament, in order to start the consultation with the stakeholders, and it will then be taken to the plenary for discussion and voting.

The new private investor will have to proceed with mandatory investments, which include buildings for the port authorities, while the port fees it will collect can only be increased with the written consent of the competent government body and with sufficient justification, based on the General Consumer Price Index.

It should also sign a contract with an independent engineer.

Regarding the exploitation and management of infrastructures that are not granted, a Port Fund is created in the form of a Legal Entity under Public Law, while port workers are given the opportunity to transfer to another legal entity in the public sector.

It is noted that the Italian Grimaldi group, whose subsidiary is Minoan Lines, already owns 67% of the shares of the port of Igoumenitsa, for a price of 84.17 million euros.

The utilization of the Heraklion Port Organization is part of the broader development plan to upgrade the infrastructure of Crete.

The Italian group, based in Naples, has a fleet of more than 130 ships and employs around 17,000 people. It consists of seven shipping companies, while managing more than 20 port terminals in 12 countries around the world.

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