HPPC S.A. and ASTAKOS TERMINAL S.A. reach an important agreement on HPPC’s property at the Port of Astakos

04/01/2022 | Press Releases

HPPC S.A. is pleased to announce that the sale of a property with a total area of ​​108 acres has been completed with the signing of the contract for sale to the company “ASTAKOS TERMINAL S.A.”.

Specifically, the property (formerly public property) is located at the “Platygiali” site in the Community of Astakos, Etoloakarnania and is adjacent to the

Maritime Industrial Complex (NAVIPE). It consists of six land areas which in 2016 came under HPPC S.A.’s ownership pursuant to Law 4389/2016, without any consideration being exchanged.

This is a property of great importance in a strategic position in the maritime zone and the industrial area in Etoloakarnania. It offers significant development opportunities to the investor, contributing to the economic development of Western Greece and creating multiple benefits for local communities.

Through this agreement, HPPC has managed, with methodical hard work, to satisfy a long-standing request to purchase this public property that was first made by the buyer to the Greek State in 2009. For this reason, the completion of the agreement is considered extremely important as the area is vital to ensuring that the company can operate smoothly. This is due to the fact that it is in the Free Zone area and functions operationally as a single and indivisible whole with the infrastructure of the Maritime Industrial Complex and its port facilities.

The sale was preceded by the property being transferred from the Greek State to HPPC in 2016. Before the sale, HPPC undertook all the necessary legal searches, checks and actions to pave the way, after the recent approval of the Board of Auditors, for the completion of a beneficial agreement which is expected to strengthen the economic growth of the wider region through the development of the maritime and industrial zone.

HPPC is the largest Greek State real estate management and development company. It is focused on absolute transparency and is progressing consistently to implement its development plan, serving the country’s investment strategy reliably and creating added value for Greek State assets.