Eight Investors Show Interest in Bidding for Volos Port Authority

February 3, 2023

VOLOS – Eight investor groups submitted expressions of interest for a majority stake of at least 67% in the Volos Port Authority SA, the Hellenic Republic Asset Development Fund (HRADF), Greece’s public asset development fund, said on Friday.

In alphabetical order, the interested parties are as follows:

– Advance Properties OOD

Founded in Bulgaria by the Domuschiev family, it has invested in 107 subsidiaries and 4 linked companies in 26 countries, and focuses mostly in pharmaceuticals, shipping (owning 32 bulk carriers and 6 under construction), and on port management (2 terminal stations in Burgas), among others.

– Goldair Cargo SA-Goldair Handling SA consortium

One of the largest Greek groups in tourism and transportation, with activities that include representation of airline companies in Greece, ground management of airplanes and passenger flows, cargo services, storage and distribution, and other services such as international conferences and cultural events.

– Intrakat SA-Tekal SA consortium

Based in Greece but with a global presence, Intrakat is a leader in construction projects in Greece, with a portfolio containing among others public infrastructure projects, Public-Private Partnerships (PPP)-Concessions, Renewable Energy Sources (RES)-environmental projects and property development.

Tekal is a Greek construction company with know-how in port and specialized construction projects, and is active in civil engineering, mechanical engineering, construction of buildings, and multiple services related to them in Greece and southern Europe.

– Israel Shipyards Ltd-Hellenic Halyvourgia SA

Israel Shipyards Industries is based in Israel and partially listed at the Tel Aviv Stock Exchange. Its activities focus mainly on shipping (shipbuilding and ship repairing services and facilities for the navy and shipping trade), the port sector (cargo loading/unloading at the Haifa port, the only privately owned port of the country), and the cement sector. It also provides logistics and support services for the offshore oil and natural gas industry, and for cargo shipping globally.

Hellenic Halyvourgia is a Greek company belonging to the Manessis family. It produces and processes iron in any form and trades iron and other metal products from its facilities in Aspropyrgos (under a resolution agreement with HIG Capital), in Velestino, and in Volos.

– Mariner Capital Ltd

Based in Malta and owned by the Hili family, Mariner is a company investing in, developing, and managing mid-sized terminal stations at ports, and also engages in other logistics and shipping activities. It operates three terminal stations in Europe: the Baltic Container Terminal (in Riga), the Intermodale Venezia terminal station (Venice), and the container terminal in Durres.

– QTerminals WLL

The company develops and manages a terminal station jointly founded by the Qatar Ports Management Company (Mwani Qatar-a 51% stake) and Qatar Navigation (Milaha-a 49% stake), responsible for facilitating Qatar’s imports and exports, and its maritime trade. QTerminals also provides services for container supply, general cargo, RoRo, livestock and offshore cargo to Phase 1 of Qatar’s port Hamad.

– GEK Terna SA

One of the largest business groups in Greece, listed on the Athens Stock Exchange and active in 16 countries, it focuses on infrastructure; production, supply, and trade of electric energy from thermal sources and RES; concessions; waste management; and property development and management.

– Thessaloniki Port Authority SA

The port management company manages northern Greece’s largest port (Thessaloniki) through a concession from the Greek state, providing docking services for ships, transporting all types of cargo, and serving the passenger flows in the Thessaloniki port. It is listed in the Athens Stock Exchange.


Following the assessment of bids, the candidates who fulfil all pre-selection criteria will proceed to the second phase, of binding offers.

The concession agreement between the state and the Volos Port Authority has a 60-year duration from the signing date, and expires in 2062. The company’s main activities include services for cargo and containers, steel and scrap metal, dry and liquid bulk cargo, and passenger services, including ferry boat schedules to the Sporades Islands and cruiseship activities.

HRADF has appointed Deloitte Business Solutions SA and Euroconsultants SA as financial consultants, Potamitis-Vekris Law Company as legal consultant and Doxiadis Associates as technical consultant, in relation to the bidding process and transaction.


ATHENS - Almost nine years after being on the brink of being pushed out of the Eurozone and its economy shrinking 25 percent, Greece’s unlikely comeback is continuing, with a 3 percent growth forecast for 2024.

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