Stefanos Theodoridis, the chair of the GrowthFund, outlined critical decisions for the Port of Volos.
Someone finally said it—things don’t look the same after a decade. The Port of Volos, previously stuck in neutral, is undergoing a fresh rethink. Let’s start with the basics: a €9 million investment is underway to deepen the port’s waters, making it worth more than ever. Naturally, any talk of privatization needs a brand-new script, because the old one? Outdated.
A team of “seriously serious” consultants has been roped in to explore all the options. They’re even talking about adding a cruise ship terminal. Decisions are expected by this summer, and there’s a vague promise of big news soon.
“Now we will develop it, having assigned it to a consortium of consultants to look at all the options and how we can add more value, for example, there is a special study that did not exist before for the possible development of a cruise ship terminal. In this environment, we will proceed on our own and you will soon have news about it,” said Stefanos Theodoridis, GrowthFund Chairman of the Board.
Why the Last Port Sale Went Belly-Up
For those who missed this riveting drama, the previous plan to sell 67% of the Port of Volos shares hit a giant iceberg. What sunk it? A storm named “Daniel” back in 2023 caused chaos and forced everyone to rethink. Meanwhile, someone crunched the numbers and decided a fresh bidding process could rake in more cash. The old offer of €51 million, which had declared the Port of Thessaloniki Authority as the preferred bidder, was tossed aside like leftovers.
In a nutshell:
- Old Deal: 67% stake for €51 million.
- New Hope: Bigger money through a revised process.
What’s Next for Volos and the Region
The plans aren’t just limited to the Port of Volos. Officials have their sights set on Thessaly’s infrastructure. Here’s a sneak peek:
- Regional Airports: Over 2.3 million passengers zipped through these airports in 2024. Talks are ongoing to group these projects into a single tender for faster progress.
- Disaster Recovery: Flood-prone regions are in line for a €600 million mountain hydrology project to prevent future disasters, with €200 million already on the way.
- Fire Protection: An initiative playfully nicknamed “Antinero,” is tackling wildfire threats.
So, What’s the Big Picture?
The powers that be want the Port of Volos to become a hub for tourism and trade in Thessaly. A gateway to the Mediterranean, if you believe the hype. While all this sounds fantastic on paper, the execution remains a question mark. Decisions about the port’s future are expected this summer, but only time will tell whether it’s privatized, developed, or just polished up a little.
For now, Thessaly’s waiting. Fingers crossed the €9 million investment doesn’t sink before everyone agrees on what to do.
