Iraklio port is going ‘green’

The controlling stake of 67% in Iraklio Port Authority will be transferred in the next few weeks to Italy's Grimaldi Group, which prevailed in the relevant tender. It will be preceded by the ratification of the concession contract by the Parliament and the financial settlement of the transaction.

The winner of the tender, which ended in 2023, was the consortium of companies Grimaldi Euromed SpA & Minoan Lines ANE, both subsidiaries of the Italian group, at a price of 80 million euros for over two thirds of the share capital.

One of the main plans of the group's strongman, Emanuele Grimaldi, for the largest port on Crete is the development of an electricity production unit from renewable sources capable of supplying not only 100% of the port's operations but also the ships that will be docked there.

The total investment is therefore estimated to approach €100...