Minister of Transport announces preferred tenders for commercialisation of Limassol Port

Minister of Transport announces preferred tenders for commercialisation of Limassol Port

 Nicosia, February 25, 2016/Independent Balkan News Agency

Minister of Transport, Communication and Works Marios Demetriades, announced on Thursday the preferred tenders of the commercialisation of activities of the Limassol Port.

In statements after the Cabinet`s meeting, Demetriades said that the preferred tenders are the consortium of companies EUROGATE International GmbH (majority participant), Interorient Navigation Company ltd and East Med Holdings S.A for the Container Terminal, the consortium of companies DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for Marine Services and the consortium of companies DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for the Multi-purpose Terminal.

“We are very satisfied with the process conducted and the end result since through a transparent and demonstrably competitive procedure we have three operators with a detailed plan to develop the port operations for the development of most of the commercial activities of the most important port in Cyprus”, Demetriades said.

He added that after almost two years of intensive work and a competitive international tender which attracted the interest of reputable port operators globally, the process for the commercialisation of the activities of Limassol Port was concluded successfully with the selection of the operators.

The Minister said that the procedure needs the approval of the House of Representatives, adding that the Ministry`s goal is for the contracts to be signed by the end of March, while there will be a transitional period of six to nine months.

Demetriades pointed out that the kind and quality of the investors who showed interest in the Limassol Port demonstrates an important vote of confidence towards the Cypriot economy.

Source: CNA