Greek investor declared preferred bidder for privatization of Alimos marina in Athens

Greek investor “Aktor Concessions SA” was nominated as the preferred bidder for the granting of the right to use and exploit the marina of Alimos in south Athens for a period of 40 years, in the context of Greece’s privatization program, the Hellenic Republic Asset Development Fund (HRADF), the country’s privatization fund, announced on Tuesday.

During an e-Auction procedure conducted on Tuesday, the Greek company offered 57.5 million euros (65 million U.S. dollars), according to an e-mailed press release.

The value of the agreement amounts to a total consideration of at least 177 million euros, as it includes, in addition to the price that will be paid with the begging of the concession, an annual concession fee and a revenue sharing expressed as a percentage of the marina’s annual turnover, HRADF explained.

The concessionaire will proceed with investments amounting to 50 million euros within the next five years to modernize the marina.

Constructed in the 60s, Alimos marina has 1,000 permanent positions. After its upgrade it will have at least 1,200 permanent positions and will be able to accommodate yachts up to 45 meters long.

In addition to the upgrading of existing port infrastructures, under the development project, the image of the marina’s land area will also change.

The aim is to create a center for recreation that includes green and promenade zones, leisure activities and dining areas, shops, hotel facilities, offices, playgrounds, etc. across an 18,500 square meters zone, according to the press announcement.

The concession agreement for Alimos marina is part of the Greek privatization program launched in 2010 under the bailout programs with international lenders which helped the debt-ridden country stay afloat and in the euro zone.

Greece exited last summer the third bailout program, but continues on the path of fiscal discipline, reforms and efforts to fully exploit its wealth and resources in order to boost growth and leave the debt crisis for good. (1 euro= 1.13 U.S. dollars)