ThPA S.A. and “METKA S.A. – TEKAL S.A. (PIER 6) J/V” co-signed the Construction Works Contract for the expansion of the port infrastructure of Pier 6 of the Port of Thessaloniki. The contract was signed at the ThPA S.A. administration building by Dr. Ioannis Tsaras, CEO of ThPA S.A., Mr. Dinos Benroubi, Representative of the Joint Venture, Vice Chairman and CEO of METKA ATE, and Ms. Argyro Psaltakou, Vice President of TEKAL S.A., marking the launch of the most important upgrade project in the history of the Port of Thessaloniki.
The subject of the Contract is the construction project included in Mandatory Enhancements No. 1: “Pier 6, Port Infrastructure Expansion” of the Concession Agreement between the Hellenic Republic and ThPA S.A., as in force. The Project leads to a drastic strengthening of the infrastructure of ThPA S.A. and consists of the expansion of Pier 6, with an additional length of 513 meters, a width of 306.5 meters, and the significant deepening (dredging) of the navigation channel and the vessels’ maneuvering area, for the safe mooring of even the ULCV type vessels (Ultra Large Container Vessels).
The signing of the contract signals the start of the main construction phase, with an implementation period of 40 months and a total budget of 195.6 million euro. The expansion of Pier 6 is a pivotal investment not only for the Port of Thessaloniki but also for the port ecosystem of Greece as a whole. At the same time, from the initial phase of construction, the project will have a significant socio-economic impact at both local and national level, contributing substantially to GDP, public revenues, and employment.
Upon completion of the project, the Port of Thessaloniki will:
- Serve simultaneously a higher number of container vessels
- Be able to accommodate Ultra Large Container Vessels of up to 24,000 TEU, a unique feature for Northern Greece.
- Increase the total capacity of the Container Terminal from 650,000 TEU today to 1,500,000 TEU, strengthening its competitiveness towards the destinations of Southeast Europe.
- Enhance its position within the port industry as well as the country’s connectivity.
- The financing of the project will be covered from the own existing capital of ThPA S.A. as well as from banking loans. The terms of the loans will be determined shortly, considering the Company’s particularly high existing bank balances and the growth pace of 2025.
With the launch of the expansion of the Container Terminal, ThPA S.A. sets the most important milestone in the development trajectory it has been recording since 2018, transforming the Port of Thessaloniki into a leading transit hub in Southeast Europe and creating substantial added value for the economy and society of the wider region.
In his statement, the CEO of ThPA S.A., Dr Ioannis Tsaras, noted: “With the signing of the contract, the Port of Thessaloniki is entering a new era of development. The expansion of Pier 6, the largest upgrade project in the history of the port, creates the conditions for Thessaloniki to strengthen its role in the Mediterranean as a strategic trade hub for Southeast Europe. This is not just an important piece of infrastructure, but a project that increases the operational capacity of the port, empowers the regional logistics ecosystem, and generates varied and multiplier benefits at both the local and national level. I would like to thank all partners and stakeholders, as well as “METKA S.A. – TEKAL S.A. (PIER 6) J/V” for their cooperation and professionalism throughout the entire preparation phase.”
Representing the Joint Venture, Mr. Dinos Benroubi, Vice Chairman and CEO of METKA ATE, stated: “Today marks an important milestone for Thessaloniki Port Authority and for our joint venture. We would like to thank ThPA S.A. for the trust they have placed in us, and we are committed to executing the works flawlessly and on schedule, with absolute respect for the environment and the local community. Our joint venture is ready to fully deliver on the vision embodied in this project—a vision of growth, international connectivity, and long-term prospects for the decades ahead, both for Thessaloniki and Northern Greece, as well as for our country’s role on the European transportation map.”
