Greece launches sale for a majority stake in Crete port

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Greece has launched a tender for the sale of a majority stake in a port on the island of Crete, a popular tourist destination in Europe.

The conservative government has been keen to attract investment and upgrade its port facilities across the country after years of underspending and a decade-long financial crisis.

Investors can submit expressions of interest for a 67% stake in the port of Iraklio, the busiest on Crete, by July 30, the country’s privatization agency, which is managing the sale, said on Monday.

The port serves cruise ships, ferries and freight vessels.

Greece is also selling majority stakes in the ports of Alexandroupoli and Igoumenitsa in northern and western Greece, as part of a privatization scheme aiming to raise 1.8 billion euros ($2.11 billion) this year.

[Reuters]

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