{"id":7687,"date":"2025-01-24T06:41:31","date_gmt":"2025-01-24T06:41:31","guid":{"rendered":"https:\/\/www.sarisaport.com\/?p=7687"},"modified":"2026-06-03T07:58:40","modified_gmt":"2026-06-03T07:58:40","slug":"commencement-of-the-sub-concession-for-the-development-of-the-philippos-b-port-of-the-kavala-port-authority","status":"publish","type":"post","link":"https:\/\/www.sarisaport.com\/en\/commencement-of-the-sub-concession-for-the-development-of-the-philippos-b-port-of-the-kavala-port-authority\/","title":{"rendered":"Commencement of the Sub-Concession for the Development of the \u201cPhilippos B\u201d Port of the Kavala Port Authority"},"content":{"rendered":"

[vc_row][vc_column css=”.vc_custom_1537371577868{padding-right: 0px !important;padding-left: 0px !important;}”][vc_column_text css=””]Growthfund announces that today, Friday, January 24, 2025, the agreement marking the commencement of the sub-concession for the development of \u201cPhilippos II\u201d terminal of Kavala Port Authority S.A. (KPA S.A.) was signed between KPA S.A. and the sub-concession company \u201cSarisa Sub-Concession of Kavala Port Philippos B S.A.\u201d. The investor undertakes for 40 years the right to use, operate, maintain and operate a multi-purpose terminal in the port of Kavala.<\/p>\n

The ceremony was attended by the Minister of Maritime Affairs and Insular Policy,\u00a0Christos Stylianides<\/strong>, the Secretary General of Maritime Affairs and Ports,\u00a0Evangelos Kyriazopoulos<\/strong>, the CEO of GROWTHFUND \u2013 The National Fund of Greece,\u00a0Grigoris D. Dimitriadis<\/strong>, the Head of the Project Preparation Facility (PPF) of Growthfund,\u00a0Panagiotis Stampoulidis<\/strong>, the CEO of KPA S.A.,\u00a0Angelos Vlachos<\/strong>, the General Manager of Business Development & Executive Member of the Board of Directors of GEK TERNA Group,\u00a0Emmanuel Moustakas<\/strong>, executives from Growthfund, GEK TERNA Group and EFA Ventures.<\/p>\n

According to the agreement, the total estimated fee amounts to nearly 34 million euros, including the upfront payment and the guaranteed fees to be paid annually to the Greek State for the 40 years of the sub-concession period. The agreement provides for the implementation of investments worth 36 million euros for the further development of the terminal, including heavy maintenance costs. Mandatory investments include the investor\u2019s obligation to construct buildings for the needs of the Port Authority, the Navigation Service, as well as a Customs Station.<\/p>\n

The investor also undertakes the obligation to develop and implement a reforestation study for the Aspra Chomata area and to carry out the maintenance, cleaning and guarding of the area during the sub-concession period.<\/p>\n

With the commencement of the sub-concession, the commercial port \u201cPhilippos II\u201d embarks on a new era of development, as significant investments for the upgrade of its operational capabilities will be implemented, resulting to benefits for the local community and economy. The development of the commercial terminal \u201cPhilippos II\u201d will also enhance the prospects of the Port of Kavala as a strategic hub in Northern Greece and the Balkans. The potential of the port of Kavala will be strengthened even further with the extension of the railway network and in particular with the construction of the section Nea Karvali \u2013 Toxotes. The contract for this important infrastructure project is expected to be signed in the first quarter of 2025.<\/p>\n

Growthfund, in its capacity as Ports Planning Authority, is focusing on the overall development of the port infrastructure of Kavala, with the preparation of the Master Plan for the passenger port \u201cApostolos Pavlos\u201d, which will provide for the development of a marina and the upgrading of the infrastructure of the fish market. Recently, an international tender was launched for the sub-concession to a private investor of the cruise activity within the port \u201cApostolos Pavlos\u201d. These initiatives showcase Growthfund\u2019s commitment to upgrade the infrastructure of the port \u201cApostolos Pavlos\u201d, in order to bolster the tourism industry of the city of Kavala. Moreover, 50% of the revenues from the sub-concession of \u201cPhillipos B\u201d terminal will be allocated to the upgrade of the infrastructure of the port \u201cApostolos Pavlos\u201d, thus generating additional multiplier benefits for the local community.<\/p>\n

 <\/p>\n

The Minister of Maritime Affairs and Insular Policy,\u00a0Christos Stylianides<\/strong>, highlighted:\u00a0\u201cToday we are delighted for two reasons. Firstly, because we are witnessing the realization of the the growth strategy of the Mitsotakis government. The public and private sector partnership spearheads the development of critical infrastructure assets in our country that remained underdeveloped for decades. This significant private investment will offer a much-needed boost to the country\u2019s maritime trade and the development of Kavala. We are also very pleased as this project, yet another important step in our strategy for the development of our ports, upgrades our country as an international trade hub. Past and new plans regarding the development of the trans-European transport network place Greece at the center of global developments. The maritime corridor connecting Asia to central and eastern Europe passes through the ports of Thessaloniki, Kavala and Alexandroupolis in northern Greece, and our county can anticipate even greater benefits in the near future, both from the reconstruction process of Ukraine and from the activation of the new corridor connecting our region with India. Greek ports and their executives are now ready to support this great dynamic development. The Greek government guarantees stability to foreign investors, and the Ministry of Maritime Affairs and Insular Policy has supported, over the last 5 years with particularly positive results, the development of the Greek maritime industry. For the first time we are making the most of our strategic position in international trade by unlocking the great potential of our ports.\u201d<\/em><\/p>\n

The CEO of GROWTHFUND \u2013 The National Fund of Greece,\u00a0Gregory D. Dimitriadis<\/strong>, stated:\u00a0\u201cToday marks an important day for the city of Kavala and northern Greece. An investor with credibility and extensive experience is taking over the operation of the commercial port \u201cPhilippos B\u201d and has committed to implementing strategic investments with multiplier benefits for the local community and economy, as well as for the restoration of the area\u2019s natural environment. The development of the commercial port of Kavala, alongside the ongoing development of the ports of Thessaloniki and Alexandroupolis, will contribute to the establishment of Greece as an important commercial and transport hub in the Balkans. Growthfund is implementing a coherent strategy for the development and sustainable transformation of the ports in its portfolio, bolstering regional development and the competitiveness of the Greek economy.\u201d<\/em><\/p>\n

The CEO of Kavala Port Authority S.A.,\u00a0Angelos Vlachos<\/strong>, said:\u00a0\u201cThe signing of this agreement signifies the successful conclusion of a long and arduous effort. The management, executives and external partners, working in coordination with the Shareholder of the Authority, managed not only to overcome obstacles and to settle issues that initially existed or arose along the way, but also to maintain the uninterrupted operation of the Port \u201cPhilippos II\u201d until today. In our view, the prospects opening up for a major port of strategic importance in the northeastern axis of the country are indeed excellent, provided that the necessary investments in material and human resources are implemented with rational planning. For our part, we remain committed that KPA S.A. will continue to contribute to the development of the wider area, which focuses not only on the region of Eastern Macedonia and Thrace but also extends to the markets of the Balkan countries.\u201d<\/em><\/p>\n

The General Director Business Development & Executive Member of the Board of Directors of GEK TERNA Group and Chairman of Sarisa S.A,\u00a0Emmanuel Moustakas<\/strong>, mentioned about the significance of the agreement:\u00a0\u201cThe commencement of the sub-concession of \u201cPhilippos B\u201d marks the entry of the port of Kavala into a new era. Given that the port of Kavala is a maritime transport hub in the wider region, the investment, which will lead to the port\u2019s further development, contributes to the strengthening of Greece\u2019s role in freight transport. The addition of the port of Kavala to the concessions\u2019 portfolio of GEK TERNA Group is in line with our long-term strategy to implement investments with a significant impact on the Greek economy.\u201d<\/em><\/p>\n

The Member of the Board of Directors of EFA VENTURES and Sarisa S.A.,\u00a0Dimitris Parthenis<\/strong>, stated:\u00a0\u201cThe commencement of the sub-concession of the port \u201cPhilippos B\u201d is a key moment for the region of Kavala. We, as EFA VENTURES, are excited to be part of a shareholding scheme that will strategically invest in the development of the port, strengthening the local economy and creating new opportunities for the community. Through the implementation of this project, we aim to transform the port into a modern freight hub, while contributing to the protection and restoration of the natural environment. It is an important initiative, and we look forward to seeing the positive results it will bring to the area, its residents and the Greek economy in general.\u201d<\/em><\/p>\n

 <\/p>\n

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Growthfund announces that today, Friday, January 24, 2025, the agreement marking the commencement of the sub-concession for the development of \u201cPhilippos II\u201d terminal of Kavala Port Authority S.A. 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