ThPA S.A. announces that on Monday 18th of March 2019, a Notice of Commencement of the First Investment Period was sent to the Greek State, confirming the Company’ s intention to initiate processes of the First Mandatory Enhancements, pursuant the provisions of the Concession Agreement between the Greek State and ThPA S.A.
Within the First Investment Period, ThPA S.A. will implement Mandatory Enhancements, amounting to 180 million euros, which will include the following individual enhancements:
- The expansion of the marine works infrastructure of Pier 6 and specifically:
- The construction of a new additional Quay, with a length of at least 440 m, out of which at least 400 m providing a minimum effective depth of -16.50 m.
- The construction of additional yard area, at least 300 average wide, alongside the above new Quay.
- The construction of all additional infrastructure, necessary for the operation of the new quay and the related land area.
- The provision of equipment of the Container Terminal equipment and Bulk Terminal at Pier 6.
- General Port Development enhancements, including the Remedial Works for Old Custom’s building.
The commencement of the Investment Period follows a series of preparatory actions regarding the maturity of the Mandatory Enhancements, including the signing of a Contract for the Procurement of Independent Engineer Services, in order to undertake the monitoring of the First Mandatory Investments and the issuance of an Additional Performance Guarantee by ThPA S.A., amounting to 20 million euros.
ThPA S.A. continues to consistently meet all of its obligations in a timely manner, aiming at the strategic development of the Port of Thessaloniki, in order to transform into the major shipping and logistics Hub in Southeastern Europe and the Balkan area.