The Sub-Concession Agreement concerns the sub-concession of the right to use, operate, maintain, and commercially exploit a multipurpose terminal of the commercial port “Philippos II” in Kavala.
Under this Agreement, TAIPED (now the Hellenic Corporation of Assets and Participations), acting as the Grantor of the Right pursuant to Article 3 of Law 4597/2019, granted the Right to the Sub-Concessionaire, namely SARISA KAVALA PORT PHILIPPOS II SUB-CONCESSION S.A. (“SARISA SUB-CONCESSION S.A.”), for the Sub-Concession Period, in accordance with the terms and conditions set out in the Sub-Concession Agreement.
More specifically, and indicatively, the Right consists of the exclusive use of the Sub-Concession Assets for commercial exploitation, maintenance, development, and the provision of services and operations as provided in the Agreement, the exclusive right to impose and collect fees in accordance with the terms of the Sub-Concession Agreement, and, in general, the management and exercise of business activities in line with the Business Plan and the specific provisions of the Sub-Concession Agreement.
The Agreement is effective as of its signing date; however, its duration commences on the Sub-Concession Commencement Date, namely 24 January 2025, and expires upon the completion of forty (40) years from that date.