Cyprus ready to launch Limassol Port privatisation

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Cyprus ready to launch Limassol Port privatisation

The Cypriot government has announced plans to transfer all commercial operations at the Port of Limassol to private sector operators by the beginning of April next year.

Minister of Communications and Works Marios Demetriades told IHS Maritime he intended to open the bidding for commercial services at Limassol, the island’s biggest port, before the end of April and to close the bidding process by the end of the year.

The government will decide on the winning bid or bids by the end of March next year.

Demetriades said the government had not yet decided how many concessions or licences it would award, adding that there could be as many as three – one for the port’s multipurpose terminal, one for the container terminal, and another for marine services, including towage and pilotage.

He hoped privatising Limassol would enable it to attract more international traffic.

“We do hope that we will attract some big names to our port,” he said. “Our objective, of course, is to bring strategic investors.”

Demetriades said he also expected progress in the long-running negotiations with international consortium Zenon for the development of cruise and leisure sailing facilities at the Port of Larnaca. He expects an agreement to be reached by July.