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ZEA MARINA

An international tender for the long term lease of the Zea Marina was launched in August 2001 with the view to enhance the Marina’s role within the City of Piraeus. The Company would retain a 25% equity participation in the SPV taking over the management of the marina.

At the tender’s final stage, binding offers were submitted by 4 consortia, all comprising of leading companies in construction, marine tourism and the leisure industry.

The privatisation contract was awarded on 23.12.2002, stipulating €10.5 million for investments in modernisation of existing infrastructure.

Up-front fee amounted to €3.9 million, while total lease proceeds for HTDC reached €16.7 million. The Company currently holds 25% stake of the SPV’s share capital worth €4.7 million.

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