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Saturday, September 21, 2019

Maritime Logistics Professional

September 6, 2019

Hill International to Develop Thessaloniki Port

Pic: Thessaloniki Port Authority

Pic: Thessaloniki Port Authority

A consortium led by Hill International has won a contract from Thessaloniki Port Authority (THPA) in Greece to support major expansion works at Thessaloniki port.

Hill International, a player in managing construction risk, announced that it has signed an agreement with THPA as leader of a consortium including Rogan Associates SA, to provide design and project management services for the planned expansion of the marine works infrastructure of Pier 6.

The Port of Thessaloniki is the most important port of Northern Greece and a key transportation hub for Southeast Europe as a part of the Core Network of the Trans-European Transport Network.

It occupies a total area of approximately 1.5 million square meters and hosts a variety of activities, including servicing of all types of cargo, ferry/passenger shipping, and cruises, as well as the Port of Thessaloniki free zone operating under applicable tax and customs legislation.

Following an international privatization process that was concluded in March 2018, the Hellenic Republic Asset Development Fund entered into a Shares Purchase Agreement with a group of international investors (South Europe Gateway Thessaloniki (SEGT) Limited) for the acquisition of 67% in the share capital of THPA.

Pursuant to the terms of the relevant Concession Agreement, THPA is required to implement a minimum of €180M ($203M) capital expenditure program to upgrade the port. The main project relates to the expansion of the marine works infrastructure of Pier 6.

“The upgrade of the Port of Thessaloniki is an investment of particular significance for the city, but also fostering cross-border synergies in Southeast Europe and promoting regional growth,” said Manolis Sigalas, Hill’s Vice President and Managing Director for Southern Europe.

“This award augments our global port projects portfolio and is reflective of our distinct capabilities in the region. We are truly honored and, together with our partners, we look forward to working hard with all stakeholders involved for the project’s successful delivery,” Sigalas added.