Thessaloniki Port Authority S.A. (ThPA S.A.) has formally executed a construction works contract with the METKA S.A. – TEKAL S.A. (PIER 6) Joint Venture for the expansion of Pier 6. The agreement, signed by the Chief Executive Officer of ThPA S.A. and senior representatives of the joint venture partners, initiates the most significant infrastructure upgrade in the port's history.
The project, a mandatory enhancement under the port's concession agreement, involves the extension of Pier 6 by 513 meters, the construction of a 306.5-meter-wide platform, and significant dredging of the navigation channel and maneuvering area. These works are designed to enable the safe berthing of Ultra Large Container Vessels (ULCVs). The contract has a 40-month implementation period and a total budget of EUR 195.6 million.
Upon completion, the Port of Thessaloniki will be equipped to serve a greater number of container vessels simultaneously, including ULCVs with a capacity of up to 24,000 TEUs. This development will increase the container terminal's annual capacity from 650,000 TEUs to 1.5 million TEUs, thereby strengthening its competitive position for Southeast European trade routes. The project is expected to generate substantial socio-economic impact at both local and national levels during its construction and operational phases.
Financing for the project will be sourced from ThPA S.A.'s existing capital and forthcoming banking facilities.