Greece’s privatization agency HRADF signed on Monday a contract with Germany’s FRAPORT AG- SLENTEL Ltd to operate 14 regional airports. The contract concerns the airports of Thessaloniki, Aktio and Kavala as well as those of Corfu, Chania, Cephalonia, Zakynthos, Rhodes, Kos, Samos, Mytilini, Mykonos, Santorini and Skiathos.
Contracts will run for 40 years and investments related to upgrading and refurbishing of existing facilities must be completed within 20 months of the start date, while new projects and expansions must be completed in 48 months.
According to the company’s announcement, “The joint venture will start operating the airports in autumn 2016 along with the payment in advance of the total amount of 1.23 billion euros.”
“Fraport will have the clear majority of the shares and its Greek partner Copelouzos will have the remaining share,” the announcement added.