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A1 expands with Greek refit yard investment

26 April 2021By Nic Robinson

A1 Yacht Trade Consortium is to expand its operation following a successful bid to take over a refit and repair yard for superyachts up to 75 metres near the city of Rhodes.

The 20-year-old business has acquired the new yard in Kanamat, near Rhodes, Greece, which has a land area of 65,000 square metres and 45,000 square metres of sea area, as part of its growth strategy.

It is claimed the shipyard will be one of the largest in the Mediterranean dedicated exclusively to yacht refit and repair, and will be developed into a facility “of the highest standard” for the yachting industry, while also bringing industry to the local economy.

A1 loaned the shipyard from the local treasury in recent years, operating it with what it called a "very basic infrastructure and services" for smaller, local yachts. It now intends to run a larger scale business there for at least 40 years.

The firm's vision for the future will see the yard restructured to create a base for the refit and repair of superyachts.

Plans include the incorporation of a Syncrolift system with the capacity for vessels up to 75m, as well as a travel lift with a capacity for 1,000t among other upgrades.

Part of the sea area will be used for a small marina capable of hosting vessels up to 100 metres.

A statement read: “In combination with the team’s many years of experience in managing refit and repair projects in the luxury yacht segment, and the geographical advantages of the place, it is expected that the result of the investment envisaged will attract yachts to the East Mediterranean and take the Greek refit and repair sector to a new level.”

Meanwhile, Greece’s Tourism Minister Harry Theoharis recently announced plans to bring more marine tourism to the country in the coming years following the coronavirus pandemic.

Marine tourism will be the “top priority” for the country, he told the Inter-Regional Forum event organised by the Greek Regional Tourism Council this month (April).

Deputy Tourism Minister Sofia Zacharaki said infrastructure in and around Greek coasts would be strengthened to encourage new and alternative forms of marine and coastal tourism.

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