Sale of Greek port may be cancelled due to increasing strategic significance

Sale of Greek port may be cancelled due to increasing strategic significance
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The authorities in Greece are reportedly set to cancel the sale of the port of Alexandroupolis as its role in military operations has become more cruical after the invasion of Ukraine.

Greece is likely to cancel the sale of its northern port of Alexandroupolis, mainly due to the port's upgraded role following the war in Ukraine, sources with knowledge of the matter told Reuters on Monday.

Greece in September received two binding bids for a 67% stake in the port of Alexandroupolis.

The bidders were Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, a joint venture of Black Summit Financial Group, Euroports, EFA Group and GEK Terna.

The port has become crucial for the US and NATO in the context of reinforcing allied forces in the east flank of NATO, Greek media had said in March after Russia's invasion of Ukraine.

According to a report by Greek Reporter in late September, US Ambassador to Greece George Tsunis visited the Alexandroupolis Port Authority and underscored the vital role the port plays "in securing NATO’s southern flank, helping Greece lead the region’s energy diversification, and as a key gateway to the West Balkans and the Black Sea."

More than 2,400 "pieces" were moved by the US Armed Forces through the port in the first half of 2022, Greek Reporter noted.

The town of Alexandroupolis is located 40 km to the Greece-Turkish border.