Privatization fund accepts 6.21mln€ offer for 40-year concession to run Chios marina

Friday, 21 December 2018 12:02
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Greece's privatization agency on Thursday announced that it has accepted an improved offer by an investment scheme for a 40-year concession of the right to use and exploit the marina on the eastern Aegean island of Chios (Hios).

The preferred investor is the consortium Avlum Enterprises Co. Ltd.-Ioannis & Elias D. Tefas Nafpigoplastiki-Cleopatra Marina SA-Touristikos Limenas Prevezas SA.  

The Hellenic Republic Asset Development Fund (HRADF) later issued a statement noting that “the improved financial offer amounts to a total consideration of at least €6,213,615 million, comprised of an upfront payment of€600,000, an annual concession fee and a revenue sharing expressed as a percentage of the marina’s annual turnover."

According to a press release, the marina on Chios, built in the late 1990s, was never operational and remained undeveloped since its construction. In full development, the marina will offer 180 berths for vessels up to 25m in length and up to 6,900 square meters of buildable space for recreational and touristic use.

"The BoD of HRADF declared the aforementioned investment scheme as the Preferred Investor, after taking into consideration the positive recommendation of the advisers on the validity of the offer submitted, the independent valuation and following the positive opinion of the Council of Experts," the press release read.

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