Investment in Pier 6 remains on track

According to the management of Thessaloniki Port Authority (ThPA), the expansion project of Pier 6 is progressing as planned and is expected to be completed by 2029.

Meanwhile, 2026 is expected to be another year of growth in container throughput for ThPA, while the decline recorded in cargo volumes is being offset by special cargoes, which generate higher revenues. Overall, the port of Thessaloniki, as stressed by CEO Ioannis Tsaras during the annual general meeting of shareholders, does not so far appear to have been affected by the war in Iran, with only a limited impact potentially arising from rising energy costs, although the company, as noted, has safeguards in place.

Asked by Naftemporiki whether the legal dispute with the Municipality of Thermaikos regarding sand extraction in Epanomi—material used for the Pier 6 project—was delaying the expansion, he replied that the project is proceeding normally and that there is no legal dispute. (The Municipality of Thermaikos has filed an appeal with the Council of State and submitted a request for suspension.)

Since April 2026, the specialised dredging vessel tasked with deepening the berth and increasing the quay depth has arrived at the port, while a small concrete production facility has already been installed close to the construction site. Funding for the project has also been secured, with only the final terms of the financing structure remaining to be formally concluded in the coming months. Due to its strong financial position, ThPA S.A. has room for negotiation on those terms. The company itself will contribute 110 million euros from its own funds, while the total investment budget is approaching 200 million.

It is recalled that the final contract for the Pier 6 expansion was signed in November 2025 with the METKA–TEKAL consortium.

The outstanding balance of mandatory investments—including the Pier 6 project—currently stands at approximately 157 million euros and is expected to be completed over the next three to three-and-a-half years. Since the privatisation of the port in March 2018, the company’s total investments have exceeded 89.6 million euros, of which 22.5 million concern certified mandatory investments and 67.1 million euros relate to additional investments for infrastructure upgrades, warehouses, mechanical equipment and the digitization of services.

As a result of the company’s strong 2025 performance, its management proposed the distribution of an increased dividend of 2.20 euros per share from 2025 earnings, up by 0.20 euros compared with the dividend for fiscal year 2024, with payment scheduled to begin on May 20.

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