Limassol Port privatization.
Ministry of Transport, Communications and Works of Cyprus has published an expression of interest for the privatization of Limassol Port on 18th June at the government`s e-procurement website.
Three long-term contracts are available for commercial operation of:
- container facilities,
- a multipurpose terminal and
- marine services.
Contracts shall be granted to three operators or a single consortium for all three.
Expression of interest submission deadline is 17thJuly; the interested parties will be informed if they have pre-qualified by 5thAugust. A final selection will be made in the first quarter of 2016.
The overall port area is estimated to be 1,5 million sq.m. and currently services 100% of the container traffic, 40-50% of total cargo and 75% of the passenger traffic in Cyprus.
The future development of part of the site, to accommodate companies which offer services to other companies dealing with Hydrocarbon exploration and storage is one of the future development projects which can be added to the port by the successful bidder.
The privatization of the main multifunctional port of Cyprus, is expected to aid the significant expansion and development of the port's operations and consequently result in a major financial boost to the Cypriot economy.
Source: Republic of Cyprus, Ministry of Transport, Communications and Works
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