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Prime Minister visits the Hull Logistics Park site in Aspropyrgos

Prime Minister visits the Hull Logistics Park site in Aspropyrgos

16 March 2024

On Saturday, March 2, the Greek Prime Minister Kyriakos Mitsotakis visited the site where a modern trimodal Logistics Park will be created in Aspropyrgos, at the former premises of the Hellenic Halyvourgia.

The Prime Minister was briefed by Mr.Constantinos Bitros, CEO of Streem Development, that manages the investment on behalf of "H.I.G. Capital Advisors LLC".

The Prime Minister expressed his special interest in this major investment and said that he will closely monitor its development, stressing its importance for the transformation of Aspropyrgos into a pan-European logistics and combined transport center, as well as its key role in the upgrading of the region of Western Attica.

As Mr Bitros stated, "this €300m modern supply chain and combined transport unit, is part of the national strategy to make Greece an international transit hub", while also noting that "it paves the way for companies that want to set up distribution centers for their European operations in Greece, with Piraeus as the port of entry". He also commented that, this is a green investment in a highly congested area that will provide growth prospects since it will create over 1,200 jobs while it is expected to have a net annual economic impact of over 100 million euros as well as significant return benefits to the local community.

The project represents a total investment of €300 million, excluding the cost of the portable equipment. It covers an area of 291,000 sqm and includes the creation of 180,000 sqm of warehouses and 20,000 sqm of ancillary space, with the capacity to support manufacturing activities.

The infrastructure that will be created includes office, catering and healthcare (clinic) spaces, a hotel facility and spaces for support functions.

The project is in the process of the completion of the dismantling of the previous facilities and the environmental restoration of the site. The construction part, according to Mr. Bitros, is expected to start next autumn and to be completed within two years.

The area faces both the National Road and the bay of Elefsina, while in the north it borders the railway line of Thriasio-Neo Ikonio, i.e. the national railway network, through which the direct transport of goods to European countries will be possible.

The investment is financed by H.I.G. and Eurobank and implemented by INVENTIO EDGE. The property came into the possession of Streem Development SA, as part of the reorganization process of Hellenic Halyvourgia SA. Simultaneously, the exchange and cancellation of loans exceeding €150m were implemented, rescuing the company and ensuring the continuation of the Volos steelworks activities (i.e. approximately 600 jobs).