ATHENS — The Hellenic Republic Asset Development Fund (HRADF) on Monday launched an international public tender for the development of the port of Heraklion, Crete, within the framework of its strategy for the development of the country's port infrastructure assets held in its portfolio.

The tender process for the 'Heraklion Port Authority' (HPA) regards the sale of a majority stake of at least 67 pct in the company's share capital. HPA has the right to exclusively use and operate the buildings, land and facilities of the port land-side zone of Heraklion's port by virtue of a concession agreement with the Hellenic Republic.

The tender process will be held in two phases: a) submission of expressions of interest and prequalification of interested parties and b) submission of binding offers and selection of the preferred investor. Interested parties are invited to submit their expression of interest on Friday, July 30, 2021.

The relevant Invitation for Expression of Interest is available on HRADF’s website. HRADF has appointed Deloitte Business Solutions-Euroconsultants as financial advisor, Your Legal Partners-Dracopoulos & Vassalakis-Alexiou Kosmopoulos as legal advisor, Doxiadis Associates, Consultants on Development and Ekistics SA, as technical advisor and Port Consultants Rotterdam BV as commercial advisor.