Greece to seek upping of Thessaloniki port bids

Thessaloniki port privatisation in the home stretch

Greece will ask for improved financial bids from the companies running to operate the country’s Thessaloniki port.

The country is expected to open the bids this week from the three candidates interested in the acquisition of the 67 percent of the port.

International Container Terminal Services (ICTS) from the Philippines, the Peninsular and Oriental Steam Navigation Company, a DP World company, and Germany’s Deutsche Invest Equity Partners GmbH together with Belterra Investments LTD and Terminal Link SAS submitted their bids on March 24th.

Once the improved bids are in, the winner of the tender will be known by the end of May, according to a Greek government official.

Under the terms of the tender, the winner will be given a 40-year concession to operate the port and is expected to invest up to EUR180 million (USD192 million) in port development by 2021.

The privatisation of the port was launched in 2014 together with the country’s Piraeus port under a bailout plan for the country’s fallen economy.