Growthfund announces the cancellation of the tender process for the acquisition of a 67% majority stake in the share capital of Volos Port Authority S.A.
This unanimous decision by the company’s Board of Directors is part of a new strategic asset management framework, following the integration of HRADF into Growthfund.
Public interest considerations necessitate a reassessment of the port’s development strategy to ensure its optimal growth for the benefit of the national economy and local communities. The Volos Port infrastructure is already undergoing significant restoration and upgrade projects worth €9 million under the Public Investment Program (PDE), following the impact of extreme weather conditions such as Storm Daniel. These developments have altered both the economic and operational value of the port.
Growthfund aims to leverage its new institutional framework, which now enables the organization to develop and manage its assets more directly. As a result, Growthfund will explore the potential for an independent development model for Volos Port.
This decision also reflects the company’s commitment to the public interest, recognizing that significant changes in economic and technical parameters have impacted the tender process.
Growthfund’s management remains committed to swiftly developing a comprehensive and realistic operational and strategic plan, tailored to the new landscape. The goal is to enhance and expand Volos Port, ensuring it plays a key role in Thessaly’s commercial and tourism development, while also positioning it as a gateway for trade and international outreach. Together with Greece’s other ports, Volos has the potential to strengthen national interests in the broader Mediterranean region.