Alexandroupolis, which is close to Bulgaria and Turkey, has been used by US warships to unload munitions and move them to NATO’s eastern flank and Ukraine.
But plans are for it to become an important energy entry point for Europe, with an LNG terminal and regasification facilities currently under construction near the city.
Reuters reminds that in February Greece and Bulgaria agreed to look for opportunities to revive the project to build a pipeline to transport crude oil from the port to Burgas.
EU funds will be used for dredging and building road infrastructure, the privatization agency said in a statement, adding that a consultant would work on a business plan.
Last year, Greece canceled the sale of a 67% stake in Alexandroupolis, saying the port was too valuable to give up.