Greece’s privatization agency on Thursday announced a preferred investor for a 40-year concession for the marina in the harbor town of Pylos, in extreme southwest Greece.
According to a press release by the Hellenic Asset Development Fund (HRADF), as the privatization fund is officially called, the fund’s board of directors declared the group consisting of the companies D Marinas Hellas Single Member S.A. – Tourist Enterprises of Messinia S.A., as the preferred investor for the granting of the right to use and develop the marina of Pylos for 40 years.
The total value of the agreement for the development of the marina amounts to 1.5 million euros and includes a lump sum of 550,000 euros, payable at the beginning of the concession plus a percentage of the marina’s annual gross revenue.
HRADF said the new concessionaire has pledged to implement investments of around 15 million euros in the coming years for the upgrading of the infrastructure and operational capacity of Pylos Marina.
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